Teal Mountain Inc., a private company, is authorized to issue an unlimited number of common shares and 100,000 noncumulative $4 preferred shares. It began operations on January 1, 2021, and the following are selected transactions during 2021. A Jan. 1 Issued 240,000 common shares for $120.000 cash. 2 Issued 24,000 preferred shares for $45 cash per share. Dec I 31 Declared a total of $206,300 in dividends, payable on January 5, to shareholders of record on December 13. Determined that it had total revenues of $903,000 and operating expenses of $620,000 Teal Mountain elected to report under ASPE it has a 15% income tax rate and paid income tax instalments during the year of 535.700 Record the share issue and dividend transactions (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts)