Strickland Propane started operations at the beginning of 2022. Their company charter shows that the company is authorized to issue an unlimited number of common shares, and a maximum of 200,000 preferred shares (stated dividend of $2.31 per share)

PART A: Record the following transactions for Strickland Propane in their very first year of operations:

Date	Transaction
Feb 06, 2022	Issued 35,000 common shares for cash of $3.68 each
Mar 31, 2022	Issued 5,000 preferred shares for cash of $15.82 per share
Aug 18, 2022	Issued 19,000 common shares in exchange for land with a fair value of $53,960
Nov 07, 2022	Declared a cash dividend of $2.68 per share to the common shareholders and the required dividend to the preferred shareholders. Used retained earnings as one of the accounts in this entry.

If you have a general journal template in Word or Excel, you can use that and copy and paste into Blackboard. However, if you choose to do the entries right into Blackboard, please format the journal entries in this way: [date] debit to [account name] for [amount] (calculations here if you want to show them) credit to [account name] for [amount] (calculations here if you want to show them) [description of entry]

PART B: Based on the transactions from Part A, complete the following Equity section of the Balance Sheet at December 31, 2022.

Assume Strickland Propane had a net income of $410,000 for the year

Strickland Propane
Balance Sheet
As at December 31, 2022
Shareholders' Equity
A shares, B authorized, C issued			$D
E shares, F authorized, G issued			H	$I
Retained earnings				J
Total Shareholders' Equity				K