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The balance sheet for Tactex Controls Inc., provincially incorporated in 2021, reported the following components of equity on December 31,2022 In 2023 and 2024 ,

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The balance sheet for Tactex Controls Inc., provincially incorporated in 2021, reported the following components of equity on December 31,2022 In 2023 and 2024 , the company had the following transactions affecting shareholders and the equity accounts: 5 The directors declared a total cash dividend of $237,eed payable on feb. 28 to the leb. 5 Jan. 1 Sold 36 , ee0 cormon shares at 511.24 per share. shareholders of record, Dividends had not teen declared for the years 2021 and 2022. A11 of the preferred shares had been issued during 2021. july 1 sold preferced shares for a total of \$157, 490. The average issue prich was s20 per share. Feb. 28 Paid the dividends declared on january 5. bec. 32 closed the dividend accounts alorg with the 5377,460 credit balance in the Incore surnary 2024 Sept. She directors declared the reguired cash dividend on the preferred shares and a s2.e per. account. compon share cath dividend payable on october an to the octeber 5 shareholders of record. bexc. I1 closed the Cash Dividends account alone wath the 4543,800 credte balance in the incote oct. 2n palo the dividends deciamd on septesber s. Sivenary account: Journal entry worksheet 2356 Record the issuance of 36,000 common shares Note: Enter debits before credits. 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 slgn.) 3. Prepare the equity section of the company's balance sheet as of December 31, 2024 . The balance sheet for Tactex Controls Inc. provincially incorporated in 2021, reported the following components of equity on December 31,2022 In 2023 and 2024, the company had the following transactions affecting shareholders and the equity accounts: Jan. 1 Sold 36,600 cormon shares at $11.24 per share. 5 The directors declared a total cash dividend of $237,000 payable on Feb. 28 to the feb. 5 shareholders of record. Dividends had not been declared for the years 2021 and 2022 . Al1 of the preferred shares had been issued during 2821. Feb. 28 Paid the dividends declared on January 5 . July 1 Sold preferred shares for a total of $157,460. The average issue price was $28 per share. Dec. 31 Closed the dividend accounts along with the $577,40e credit balance in the Income Summary account. Sept. 5 The directors declared the required cash dividend on the preferred shares and a $2. per common share cash dividend payable on October 28 to the October 5 shareholders of record. oct. 28 paid the dividends declared on September 5. Dec. 31 closed the Cash Dividends account along with the $543,800 credit balance in the Income summary account. Required: 1. Prepare journal entries to record the transactions and closings for 2023 and 2024 . The company uses a cash dividends acce record deciared dividends. Journal entry worksheet Record the issuance of 36,000 common shares Note: Enter debits before credits. 2. Prepare a statement of changes in equity for the year ended December 31, 2024. (Amounts to be deducted should be Indlcated a minus sign.) 3. Prepare the equity section of the company's balance sheet as of December 31,2024

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