tab chapp tab E Problems (total 70 marks -70%) 1. ABC Corporation's shareholders' equity section at December 31, 2023, appears below: Shareholders' equity Common shares, 50,000 shares issued. a) Oct 31 Dec 1 Dec 31 b) No dividends was declared in 2023. The following are transactions in 2024. Jun 30 Sep 30 1. Convertible 2-for-1 preferred shares, $2 cumulative, 10,000 shares issued... Retained earnings..... Total shareholders' equity.... 2. Required (20 marks) Prepare the journal entries on all the above transactions Fill in the amount that would appear in the shareholders' equity section for ABC Corporation at December 31, 2024, for the following items: Common shares value Preferred Shares value 3. Declared dividends for Preferred Shares and a 10% common stock dividend, payable on July 31, 2024, to shareholders of record on July 5, 2024. The fair market value it common shares on Jun 30, 2024 was $12 per share and $15 on July 31 1,000 Preferred Shares were converted to Common Shares. The price of its Pr