Question 2 of 3 > ./10 Bellevue Corporation, a publicly traded company is wuthorized to issue 212,000 multive preferred shares and an unlimited number of common shares on January 1, 2018, the general ledger contained the following shareholders guitur: Preferred shares (8.100 shares issued $445,500 Common shares (64.400 shares issued 1.030,400 Contributed surplus 24,600 Retained earnings 788,000 Accumulated other comprehensive income 9.800 The following equity transactions occurred in 2018 Feb. 6 od 10.000 preferred shares for $590,000. Apr 6 Issued 18.400 .common shares for $542,800 27 Reacquired and retired 3.000 common shares at $1 per share May 29 Declared a miannual cash dividend to the preferred shareholders of record at Jun 12. payable July Aug 22 issued 9,400 common shares in exchange for a building. At the time of the change the building was ved at $159.200 and the common shares at $144,000 Dec. 14 The board of directors decided there were insuficient funds to declare the semi-annual dividend to the preferred shareholders al income for the year was $618.000 Dec, 14 The board of directors decided there were insufficient funds to declare the semi-ar dividend to the preferred shareholders 31 Net income for the year was $618,000 Record the above transactions, including any entries required to close dividends and net income.Cred countries are automatically indented when the amount is entered. Do not indent many if no entry is required, select "No Entry for the account titles and enter for the amounts. Round average cost per share to 2 decimal pales, eg2.25 and finanswers to decimal place Date Account Titles and Explanation Debit Credit D 29 Dec. 14 Closing entries Debit Credit Date Account Tities and Explanation Dec. 31 To close net income/clos) Dec. 31 To close dividends.) e Textbook and Media List of Accounts Watu 2 / 10 List of Accounts Open Taccounts and post to the shareholders' equity accounts (Record entries in the ander presented in the problem Preferred Shares Common Shares