Transcribed image text: Granger Corporation, a publicly traded company, is authorized to issue 208,000 $4 noncumulative preferred shares and an unlimited number of common shares. On January 1, 2021, the general ledger contained the following shareholders' equity accounts: Preferred shares (8.100 shares issued) Common shares (67,200 shares issued) Contributed surplus Retained earnings Accumulated other comprehensive income $445,500 1,075,200 26.000 825.000 9,600 The following equity transactions occurred in 2021: : Feb. 6 Issued 9.100 preferred shares for $546,000. Apr. 6 Issued 19.200 common shares for $566.400. 27 Repurchased and retired 3.000 common shares at $18 per share. The balance in the Contributed Surplus account arose from the repurchase of common shares in prior years. May 29 Declared a semi-annual cash dividend to the preferred shareholders of record at June 12, payable July 1 Aug 22 Issued 9.100 common shares in exchange for a building. At the time of the exchange, the building was valued at $175,500 and the common shares at $159,000. Dec 14 The board of directors decided there were insufficient funds to declare the semi-annual dividend to the preferred shareholders. 31 Net income for the year was $546,000. (a) Record the above transactions, including any entries required to close dividends and net income. (List all debit entries before credit entries. Credit account tities 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 for the amounts. Round average cost per share to 2 decimal palces, eg, 2.25 and final answers to decimal places.) Date Account Titles and Explanation Debit Cre