On January 1, 2024, Sunland Ltd. had the following shareholders' equity accounts: The company was also authorized to issue an unlimited number of $4 noncumulative preferred shares. As at January 1,2024 , none had been issued. During 2024 , the corporation had the following transactions and events related to its shareholders' equity: Jan. 2 Issued 113,000 preferred shares for $50 per share. Mar. 31 Paid quarterly dividend to preferred shareholders. June 30 Paid quarterly dividend to preferred shareholders. Aug. 12 Issued 104,000 common shares for $1.70 per share. Sept. 30 Paid quarterly dividend to preferred shareholders. Dec. 31 Paid quarterly dividend to preferred shareholders and a $0.25 per share dividend to the common shareholders. Dec. 31 Loss for the year was $105,000. Journalize the transactions and the entries to close dividends and the Income Summary account. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) Journalize the transactions and the entries to close dividends and the Income Summary account. (Credit account titles are Prepare the shareholders' equity section of the balance sheet at December 31,2024 , including any required disclosures. Assume