The shareholders\' equity section of Pina Industries Ltd at December  included the following: 

 

$ preferred shares, cumulative, shares authorized, shares issued

$

Common shares, shares authorized, shares issued

Dividends were not declared on the preferred shares in and are in arrears.

On September the board of directors declared dividends on the preferred shares for and to shareholders of record on October payable on October

On November the board of directors declared a $ per share dividend on the common shares, payable November

to shareholders of record on November

Prepare the journal entries that should be made by Pina Industries for