Please help me question $($c$).$ Don't need explan on question $($a$)$ or $($b$).$ Thanks.

The company was also authorized to issue an unlimited number of $$4$ noncumulative preferred shares. As at January $1,2024,$ none

had been issued. During $2024,$ the corporation had the following transactions and events related to its shareholders' equity:

Jan. $2$ Issued $101,000$ preferred shares for $$50$ per share.

Mar. $31$ Paid quarterly dividend to preferred shareholders.

June $30$ Paid quarterly dividend to preferred shareholders.

Aug. $12$ Issued $110,000$ common shares for $$1\mathrm{.}70$ per share.

Sept. $30$ Paid quarterly dividend to preferred shareholders.

Dec $31$ Paid quarterly dividend to preferred shareholders and a $$0\mathrm{.}25$ per share dividend to the common shareholders.

Dec $31$ Loss for the year was $$99,000.$

$($To record dividends paid$)$

Retalned Earnings

Income Summary

$($To close Income Summary$)$

Retalned Earnings

Cash Dhidends $-$ Preferred

Cash Dhidends $-$ Common

$($To close dividends$)$

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Open general ledger accounts for the shareholders' equity accounts, enter the beginning balances, and post entries from the

previous part. $($Post entries in the order of journal entries presented in the previous part.$)$

Preferred shares

Common Shares

$($c$)$

Prepare the shareholders' equity section of the balance sheet at December $31,2024,$ including any required disclosures. Assume

Sandhill is reporting under ASPE. $($Enter account name only and do not provide descriptive information.$)$