The following selected transactions occurred during 2006 Jan. 2 Issued 50,000 preferred shares for $25 per share. Mar, 10 Declared the quarterly cash dividend to preferred shareholders of record on March 23, payable April 2 June 10 Declared the quarterly cash dividend to preferred shareholders of record on June 23, payable July 2 Aug 12 ssued 10,000 common shares for $730 per share. Sept. 10 Declared the quarterly cash dividend to preferred shareholders of record on September 29, payable October 1. Oct. 8 uued 10,000 preferred shares at 550 per share 15 Issued 20,000 common shares in exchange for equipment. The common shares had not traded recently but were valued at $7.50 per share on the last date they had traded. The fair value of the equipment was $154,000 on October 15 Dec 10 The fourth quarter cash dividend to preferred shareholders was not declared or paid. 31 A net loss of $68,000 was reported for the year Instructions 2. Record the above transactions for 2021, including any required entries to close dividends and net for b. Open Taccounts and post to the shareholders equity accounts, c. Prepare a statement of retained earnings for the year. d. Prepare the shareholders' equity section of the statement of financial position at December 31. e Schipper is a private company following ASPE. If it followed IFRS instead, how might your answers in parts (a) through (d) change? Reproduce equity accounts, prepare shareholders' equity