Zen Aerospace Corporation reported the following equity account balances on December 31, 2022:

Preferred shares, $3.60 cumulative, unlimited shares authorized	$	0
Common shares, unlimited shares authorized, 29,000 shares issued and outstanding		800,400
Retained earnings		342,000

In 2023, the company had the following transactions affecting shareholders and the shareholders equity accounts:

Jan.	1		Purchased and retired 3,800 common shares at $36 per share.
	14		The directors declared an 10% share dividend distributable on February 5 to the January 30 shareholders of record. The shares were trading at $47.40 per share.
	30		Date of record regarding the 10% share dividend.
Feb.	5		Date of distribution regarding the 10% share dividend.
July	6		Sold 6,800 preferred shares at $78 per share.
Sept.	5		The directors declared a total cash dividend of $48,017 payable on October 5 to the September 20 shareholders of record.
Oct.	5		The cash dividend declared on September 5 was paid.
Dec.	31		Closed the $483,600 credit balance in the Profit Summary account to Retained Earnings.
	31		Closed the dividend accounts.

Required 1. Prepare journal entries to record the transactions and closings for 2023 (assume the retirements were the first ever recorded by Zen Aerospace). Assume share dividends and cash dividends account is used when dividends are declared. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

2. Prepare the statement of changes in equity for the year ended December 31, 2023. (Amounts to be deducted should be indicated by a minus sign. Round the final answer to the nearest whole dollar.)

ZEN AEROSPACE CORPORATION
Statement of Changes in Equity
For Year Ended December 31, 2023
	Preferred Shares	Common Shares	Retained Earnings	Total Equity
Balance, January 1
Balance, December 31