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Larkspur Inc., a private company, is authorized to issue an unlimited number of common shares and 128,000 noncumulative $4 preferred shares. It began operations on January 1, 2024, and the following are selected transactions during 2024: Jan. 1 Issued 384,000 common shares for $192,000 cash. 2 Issued 38,400 preferred shares for $40 cash per share. Dec. 1 Declared a total of $288,000 in dividends, payable on January 5 , to shareholders of record on December 13 . 31 Determined that it had total revenues of $1,171,200 and operating expenses of $780,800. Record the share issue and dividend transactions. (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. List all debit entries before credit entries.) Prepare a partial income statement starting with profit before income tax and record the adjusting entry for income tax. (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. List debit entry before credit entry.) Larkspur Inc., a private company, is authorized to issue an unlimited number of common shares and 128,000 noncumulative $4 preferred shares. It began operations on January 1, 2024, and the following are selected transactions during 2024: Jan. 1 Issued 384,000 common shares for $192,000 cash. 2 Issued 38,400 preferred shares for $40 cash per share. Dec. 1 Declared a total of $288,000 in dividends, payable on January 5 , to shareholders of record on December 13 . 31 Determined that it had total revenues of $1,171,200 and operating expenses of $780,800. Record the share issue and dividend transactions. (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. List all debit entries before credit entries.) Prepare a partial income statement starting with profit before income tax and record the adjusting entry for income tax. (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. List debit entry before credit entry.)