Zach Limited began operations in 2017 and currently have the following shareholder's equity section on its Statement of Financial Position on December 31, 2020. $60,000 Class A, $8.50 Preferred shares, non-cumulative - Unlimited number authorized. issued and outstanding 5,000 shares $50,000 Class B, 55.00 Preferred shares, cumulative - Unlimited number authorized. issued and outstanding 2,000 shares Common shares- Issued and outstanding 10,000 common shares $100,000 Contributed surplus- Previous conversion of preferred Class A shares $12,500 All classes of shares were issued when the company began in 2017. The last time a dividend was paid on the Class B preferred was December 31, 2017 Required: Prepare journal entries for the following transactions which occurred in 2021. Round all amounts to the nearest dollar except for per share amounts which are to be rounded to 2 decimal places. January 6, 2021 - Sold 5,000 common shares at $16.50 per share and collected the cash. (2 marks) February 13, 2021 - Sold 7.000 common shares and 2,000 preferred Class A shares for a total price of $125,000. At this date the common were trading at $15 per share and the preferred Class A were selling for $18 per share. Cash was collected. (8 marks) April 15, 2021 - Repurchased and cancelled all the issued and outstanding Class A preferred shares for $18 per share. (5 marks) May 18, 2021 - Declared and paid the required dividend to the Preferred Class B shareholders and paid a $5.00 per share dividend to the common shareholders of record on May 18, 2021. Please identify in your entries the dividend paid to both classes of shares. (5 marks) June 2, 2021 - Repurchased and cancelled 3,000 common shares at a reacquisition price of $9.50 per share. (5 marks) June 7, 2021 Declared and paid a 10% stock dividend on the common shares. The common shares issued for the dividend were valued at $18 per share