On January 1.2021. Golden Ltd, a private company, had the following shareholders' equity accounts Preferred shares, 51.0 noncumulative unlimited number authorized, none issued $3.030,000 Common shares, unlimited number authorized, 303 million issued 3.480.000 Retained earnings The following selected transactions occurred during 2021 2 Issued 200.000 preferred shares at $25 per share Feb B Issued 110.000 common shares in exchange for land. On this date, the fair value of the land was $235.000. The common shares have not recently traded, but the last time they traded, they sold for $2. Sper share Mar Apr 18 Declared the quarterly cash dividend to preferred shareholders of record on March 20 payable April 2 Issued 369.000 common shares at $3 per share Declared the quarterly cash dividend to preferred shareholders of record on June 20. payable July 2. BEAM A DO ENG June 5 Sept 5 Declared the quarterly cash dividend to preferred shareholders of record on September 20, payable October 1. Oct 4 Issued 37,000 preferred shares at $25 per share Dec 5 Declared the quarterly cash dividend to preferred shareholders of record on December 20, payable January 1, Declared a cash dividend of 50.5 per share to the common shareholders of record on December 31, payable January 10 14 31 Net income for the year was $1.00 million (a) Your Answer Correct Answer Your answer is partially correct dividendo 3:05 AM (b) Open Taccounts and post to the shareholders equity accounts.(Record entries in the order presented in the problem) Preferred Shares Jan 1 Bal Jan 2 V Oct Dec 31st Retained Earnings 18 De CE Retained Earnings Dec 31 CE Jan 1 Bal Dec 31 CE Dec 31 Common Shares Jan 1 Bal Febia AGB DEC 31 Dividends Declared Mar. 20 Mar. 20 June 20 June 20 Sept. 20 Sept. 20 Dec 31 CE Dec 31 CE V Dec 31 CE e Textbook and Media