The balance sheet for Tactex Controls Inc., provincially Incorporated in 2021, reported the following components of equity on December 31, 2022. Contributed capital: Tactex Controls Inc. Equity Section of the Balance Sheet December 31, 2022 Preferred shares, $2.2 cumulative, unlimited shares authorized; 21,000 shares issued and outstanding Common shares, unlimited shares authorized; 76,000 shares issued and outstanding Total contributed capital Retained earnings Total equity $ 393,000 736,000 $1,129,000 379,000 $1,508,000 2. Prepare a statement of changes in equity for the year ended December 31, 2024. (Amounts to be deducted should be indicated by a minus sign.) TACTEX CONTROLS INC. Statement of Changes in Equity For Year Ended December 31, 2024 Preferred Shares Common Shares Retained Total Equity Earnings Balance, January 11 Loss Dividends Balance, December 31 $ 0 $ 0 $ 0 $ 0 3. Prepare the equity section of the company's balance sheet as of December 31, 2024. TACTEX CONTROLS INC. Equity Section of the Balance Sheet December 31, 2024 Contributed Capital Preferred shares, $2.2 cumulative, unlimited shares authorized, 28,845 shares issued and outstanding Common shares, unlimited shares authorized 107,000 shares issued and outstanding Total contributed capital Retained earnings Total equity 4 $ 0 $ 0 View transaction list View journal entry worksheet No Date 1 Jan 01, 2023 Cash General Journal Debit Credit 333,940 Common shares 333,940 2 Jan 05, 2023 Retained earnings 232,000 Preferred dividend payable Common dividend payable 3 Feb 28, 2023 Preferred dividend payable 232,000 Common dividend payable 232,000 4 Jul 01, 2023 Cash Preferred shares 156,900 156,900 5 Dec 31, 2023 Retained earnings 576,900 ch 5 Dec 31, 2023 Retained earnings Cash dividends 6 Dec 31, 2023 Income summary Retained earnings 7 Sep 05, 2024 Cash dividends Preferred dividend payable Common dividend payable 8 Oct 28, 2024 Preferred dividend payable 9 6 Dec 31, 2024 Common dividend payable Cash Retained earnings Cash dividends 576,900 576,900 576,900 206,700 9 Dec 31, 2024 Retained earnings Cash dividends D 10 Dec 31, 2024 Income summary 543,300 Retained earnings 543,300