The shareholders equity of Henry Byce Ltd. at the end of 2020 and 2019 appeared as follows:

		2020		2019
Share capital, preferred shares, 9% cumulative, 1,009,000 shares authorized, 52,000 shares issued		$941,200		$941,200
Share capital, 4,629,000 common shares authorized, 2,592,000 common shares issued and outstanding (20191,048,000 shares issued and outstanding)		8,151,200		3,982,400
Retained earnings		4,828,000		3,160,000
Total shareholders equity		$13,920,400		$8,083,600

Byce began operations in 2018. The 52,000 preferred shares issued have been outstanding since 2018. During 2020, Byce declared and paid a total of $264,000 in cash dividends.

Assume the preferred shares were not in arrears at December 31, 2019. How was the $264,000 in cash dividends distributed between the two types of shares in 2020?

		Preferred		Common		Total
2020		$		$		$

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List of Accounts

Assume the preferred share dividends were in arrears since 2018; that is, the dividends were not paid in 2018 and 2019. How was the $264,000 in cash dividends distributed between the two classes of shares?

		Preferred		Common		Total
2018 arrears		$		$		$
2019 arrears		$		$		$
2020
		$		$		$

eTextbook and Media

List of Accounts

Provide journal entries to account for the changes to the shareholders equity of Henry Byce Ltd. in 2020 assuming the scenario from part (a). (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 0 for the amounts.)

Account and explanation	Debit	Credit
(common shares issued during year)
(Dividends declared)
(Dividends paid)
(Net income for the year closed to retained earnings)
(Dividends Declared for the year closed to retained earnings)