Please do step by step

Instructlons a) Record the following transactions which occurred consecutively this year. Show all calculations. 1. There are no dividends in arrears. A todal cash dividend of $100,000 was declared. The preferred shares are participating to a maximum of 8% Record dividends payable to common and preterred shares in separate sccounts 1i. 5% common stock dividend was declared. The current market value of the common iii. Net income for the year was $190,000 Fecord the closing entry b) Incorporating all the above information, construct the shareholders' equaty section of the SFP