Question 6 of 11 View Policies Show Attempt History Current Attempt in Progress On January 1, 2021, Golden Valley Ltd., a private company, had the following shareholders' equity accounts: Preferred shares. $1.0 noncumulative, unlimited number authorized, none issued Common shares, unlimited number authorized, 3.28 million issued Retained earnings $3,280,000 3,490,000 The following selected transactions occurred during 2021: 2 Jan. Feb. 8 Mar. i to u Apr. June Sept. Oct. Dec Issued 220,000 preferred shares at $25 per share. Issued 90,000 common shares in exchange for land. On this date, the fair value of the land was $183,000. The common shares have not recently traded, but the last time they traded, they sold for $2.5 per share. Declared the quarterly cash dividend to preferred shareholders of record on March 20. payable April 2 Issued 360,000 common shares at $3 per share. Declared the quarterly cash dividend to preferred shareholders of record on June 20. payable July 1. Declared the quarterly cash dividend to preferred shareholders of record on September 20, payable October 1. Issued 42,000 preferred shares at $25 per share. Declared the quarterly cash dividend to preferred shareholders of record on December 20, payable January 1. Declared a cash dividend of $0.5 per share to the common shareholders of record on December 31, payable January 10. Net income for the year was $1.02 million. 5 4 5 14 31 Open T accounts and post to the shareholders' equity accounts. (Record entries in the order presented in the problem.) Preferred Shares v > Retained Earnings Common Shares V Dividends Declared V V Question 4 of 11 10 View Policies Current Attempt in Progress The following accounts appear in the ledger of Greencastle Inc after the books are closed at December 31, 2021: Accumulated other comprehensive income Common shares (unlimited number of shares authorized, 200,000 shares Issued) Stock dividends distributable Contributed surplus Preferred shares ($1.4 noncumulative, 80,000 shares authorized. 8,000 shares issued) Retained earnings (of which $182,000 is restricted for a plant expansion) $38,800 600.000 72.000 48.800 200.000 1.072,000 Prepare the shareholders' equity section of Greencastle's statement of financial position, including anyrequired note disclosure. (Enter account name only and do not provide descriptive information. Enter negative amounts using either a negative sign preceding the number eg. 45 or parentheses e g. (45).) GREENCASTLE INC. Statement of Financial Position (Partial) $ > > > $ $