Saved Chapter 18 Retained Earnings 1,728 ANACONDA INTERNATIONAL CORPORATION Statements of Shareholders' Equity For the Years Ended Dec 31, 2021, 2022, and 2023 ($ in millions) Preferred Connon Additional Stock Stock Paid-In $10 par $1 par Capital Balance at January 1, 2021 80 720 Sale of preferred shares 20 960 Sale of common shares 7 63 Cash dividend, preferred Cash dividend, common Net income Balance at December 31, 2021 20 87 1,743 ftetirement of shares (8) (72) Cash dividend, preferred Cash dividend, common 3-for-2 split effected in the form of a dividend 10 (10) Net income Balance at December 31, 2022 30 79 1,661 Common stock dividend 5 50 Cash dividend, preferred Cash dividend, common Net income 30 84 Balance at December 31, 2023 1,711 (2) (18) 280 1,988 (18) (2) (22) Total Shareholders Equity 2,528 980 70 (2) (18) 280 3,838 (98) (2) (22) 430 2,376 (55) 4,146 (2) (24) 472 2,767 (2) (24) 472 4,592 Required: 1. Infer from the statements the events and transactions that affected Anaconda International Corporation's shareholders' equity during 2021 2022 and 2023. Prepare the journal entries that reflect those events and transactions. (Hint: In lieu of revenues and expenses. use an account titled "Income summary to close net income or net loss.) 2. Prepare the shareholders' equity section of Anaconda's comparative balance sheets at December 31, 2023 and 2022 Next Record sale of common stock. Note: Enter debits before credits General Journal Date 2021 Debit Credit