Prepare Shareholders' Equity On January 1, 2025, Pup Ltd., had 1,000, $5, non-cumulative preferred shares issued with a balance of $500,000. It also had 50,000 common shares issued with a balance of $900,000. The balance in the retained earnings account on that date was $80,000. Record the appropriate journal entries for the transactions below. If no entry is required, clearly indicate "No entry required" a) b) On January 18, 2025 the company issued 10,000 common shares for a building valued at $200,000. On December 8, 2025 the company paid the full cash dividend on the preferred shares and a $2 cash dividend to common shareholders on record as of December 22, to be paid on December 31, 2025.