The shareholders' equity section for Arizona Co on December 31,2022 (last year) shows the following accounts; Preferred shares, $4 non-cumulative, 100,000 shares authorized. The following transactlons are for 2023 : 1. February 1 - issued 10,000 common shares for a patent valued at $200,000. The seller's book value of the patent is $150,000. 2. March 1 - the common shares were split 2 for 1. 3. April 14 -issued 10,000 common shares and 3,000 preterred shares for a lump sum of $450,000 cash. The market value of each common share is $20 and the market value of each preferred share is $100 per share. 4. July 22-Declared the quarterly dividend on the preferred shares and 50 cents per share on the common shares. 5. August 5 - Repurchased and canceled 15,000 common shares for $20 per share. 6. August 25 - Paid the dividends declared on July 22. 7. December 22 - Declared a 5% common stock dividend. On this day the common shares have a market value of $20 per share. 8. December 31 - Prepared the closing entries for the $400,000 net income for the year and the dividends declared for the ye