Zen Aerospace Corporation reported the following equity account balances on December 31, 2016: -0 Preferred shares. $ 3.60 cumulative, unlimited shares authorized Common shares, unlimited shares authorized, 20.000 shares issued and outstanding Retained Earnings ............ 552.000 324.000 In 2017, the company had the following transactions affecting shareholders and the shareholders' equity accounts: Jan. 1 14 30 Feb. July Sept. 5) 6 5 Purchased and retired 2.000 common shares at $ 36 per share. The directors declared a 10% share diidend distributable on February 5 to the January 30 shareholders of record. The shares were trading at $ 45.60 per share. Date of record regarding the 10% share dividend. Date of distribution regarding the 10% share dividend. Sold 5.000 preferred shares at $ 60 per share. The directors declared a total cash dividend of $ 48,000 on October 5 to the September 20 shareholders of record. The cash dividend declared on September 5 was paid. Closed the $ 465,600 credit balance in the Profit Summary account to Retained Earnings. Closed the duidend accounts. Oct. Dec. 5. 31) 31 Required 1. Prepare journal entries to record the transactions and closings for 2017 (assume the retirements were the first ever recorded by Zen Aerospace). 2. Prepare the statement of changes in equity for the year ended December 31, 2017.