Question 2: The following is the shareholders' equity part of Company XYZ's balance sheet: The following are transactions that happened during the year 2022: Jan. 12: declared a cash dividend of $440,000. Indicate the amount payable to each class of shareholder. Feb.20: issued 15,000 common shares for $9 per share. Feb 28: Paid the cash dividend declared on January 12. March 27: declared a 15\% stock dividend on common shares. The market value of the shares was $9.50 per share. April 8: distributed the stock dividend declared on March 27. June 8: repurchased 3,500 of the company's own common shares at $6.5 per share. August 15: issued 4,000 common shares for $8 per share. September 15: split the common shares 3 for 1 Dec. 31: Close net income of $500,000 to Retained Earnings. Required: - Record the transactions in the general journal. - Present the shareholders' equity section of the balance sheet as of December 31, 2022