Question 2 The shareholders' equity of Deer Ltd. at the end of 2020 and 2019 appeared as follows: Share capital, preferred Shara, $2 cumulative, 2,000,000 shares authorized, 26,000 shares issued $182,000 $132,000 Share capital, 5,000,000 common shares authorized, 1,280,000 common Shara issued {20191,090,000 shares) 5,310,000 4,360,000 Retained eamlngs 3,902,000 3,1 14,000 Total shareholders' equity $9,394,000 $2,656,000 During 2020, Deer paid a total of $124,400 In cash dividends. v (c) Both common shares and retained earnings changed during the year. Provide journal entries that would account for the changes. the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and e No. Account and explanation Debit Credit (common shares issued during year) 2. (Dividends declared during year) 3. (Dividends paid during year) 4. (Net income for the year closed to retained earnings) 5. (Dividends Declared for the year closed to retained earnings)