The December 31,2022 shareholder's equity section of Ross Inc's balance sheet is shown below: The following equity transactions occurred during the 2023: Jan 20th Issues 500 common shares for an equipment with fair value $20,000 Feb 28th Issued 50 cumulative preferred shares for $2,000 cash May 304 Issued 50 non-cumulative preferred shares for $1,000 cash August 114 Declared the regular cash dividend on preferred shares. No dividend was declared or paid in 2022. August 31" Paid the regular cash divided which was declared on August 1tt. Nov 10 Declared and issued a 10% stock dividend on common shares at a time when the market price was $20 per share Required 1. Journalize the transactions 2. Assume net income for the year 2023 was $25,000. Prepare the statement of changes in equity for the year-ended Dec 31, 2023