Problem 11-4A R a tio allow to control your computer by Voice On January 1, 2018, Marx Ltd., a private company, had the following shareholders' equity accounts: Donna Teen dictate textinto documents and white and send e-mails. Just about everything you do with your Preferred shares, $1 noncumulative, unlimited number authorized, none issued Common shares, unlimited number authorized, 3.30 million issued $3,300,000 Retained earnings You will be able to control your computer by voice once you have completed t 3,530,000 d. The following selected transactions occurred during 2018: Jan. 2 Issued 200,000 preferred shares at $25 per share. Feb. 8 Issued 100,000 common shares in exchange for land. On this date, the current value of the land was $212,000. The common shares have not recently traded, but the last time they traded, they sold for $2.50 per share. Mar. 5 Declared the quarterly cash dividend to preferred shareholders of record on March 20, payable April 2. Apr. 18 June 5 Issued 434,000 common shares at $3.00 per share. Cancel Declared the quarterly cash dividend to preferred shareholders of record on June 20, payable July 1. Sept. 5 Declared the quarterly cash dividend to preferred shareholders of record on September 20, payable October 1. Oct. 4 Issued 36,000 preferred shares at $25 per share. Dec. 5 Declared the quarterly cash dividend to preferred shareholders of record on December 20, payable January 1. Declared a cash dividend of $0.50 per share to the common shareholders of record on December 31, payable January 10. 31 Net income for the year was $1.05 million. / Record the above transactions for 2018, including any entries required to close dividends declared and net income to Retained Earnings. (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 o for the amounts.) 2/ Open T accounts and post to the shareholders' equity accounts. (Record entries in the order presented in the problem.) 3/ Prepare a statement of retained earnings for the year. (List items that increase retained earnings first.) 4/ Prepare the shareholders' equity section of the statement of financial position at December 31. (Enter account name only and do not provide descriptive information.)