Prepare journal entries on the appropriate dates for the $2024$ dividends.Headlands Limited has the following information available regarding its share capital at December $31,2023$:

Preferred shares, $$3\mathrm{.}50$ cumulative, $18,400$ shares issued

$$920,000$

Preferred shares, $$4\mathrm{.}50$ noncumulative, $9,200$ shares issued

$460,000$

Common shares, $276,000$ shares issued

$1,380,000$

Tamarisk Inc. has recorded all necessary adjusting entries, except for income tax expense, at its fiscal year end, July

$31$

$,$

$2024.$

$$The following information has been taken from the adjusted trial balance:

Accounts payable

$

$24$

$,$

$480$

$$

Interest expense

$

$4$

$,$

$800$

Cash dividends

$$

common

$57$

$,$

$600$

$$

Notes payable

$96$

$,$

$000$

Common shares

$192$

$,$

$000$

$$

Retained earnings

$($

Aug

$.$

$1$

$,$

$2023$

$)$

$337$

$,$

$920$

Cost of goods sold

$297$

$,$

$600$

$$

Salaries expense

$134$

$,$

$400$

Dividends payable

$14$

$,$

$400$

$$

Sales

$638$

$,$

$400$

Income tax expense

$28$

$,$

$800$

$$

Supplies expense

$9$

$,$

$600$

Income tax payable

$2$

$,$

$880$

$$

Unearned revenue

$11$

$,$

$520$

All accounts have normal balances and total assets equal $

$784$

$,$

$800.$

$$Tamarisk has a

$20$

$\%$

$$income tax rate. Prepare a multiple$-$step income statement