Please, show me the soultion for this. Thank you in advance!

Corporation showed the following amounts in the equity section of its balance sheet at January 1, 2021: $500,000 Preferred Shares, $2 cumulative (in arrears for 2020), 10,000 shares issued Common shares 40,000 shares issued Retained Earnings $800,000 $500,000 In 2021: On January 20, 2021, 10,000 common shares were issued for $150,000. On November 1, 2021, Cash dividends of $90,000 were declared. Dividends will be paid on January 18, 2022. On December 31, 2021 Corporation reported revenues of $150,000 and expenses of $80,000 for the year. Required 1. Calculate the amount of dividend per share owing to preferred shareholders 2. Prepare journal entries for 2021. Use an Income Summary account and Cash Dividends account as required 3. Calculate the average issue price per common share for 2021 4. Prepare the statement of changes in shareholders equity for the year ended December 31, 2021 5. Prepare the balance sheet (partial) at December 31, 2021