Problem 13-4A Dividends, retirement, statement of changes in equity LO1, 2,5 Zen Aerospace Corporation reported the following equity account balances on December 31, 2019, Preferred shires. 33.68 cwulative, unlimited shares authorized Common shares, unlimited shares outhorized 21,500 shares issued and outstanding Tetained earnings 593,400 327,000 In 2020, the company had the following transactions affecting shareholders and the shareholders equity accounts: Jan. 1Purchased and retired 2,300 common shares at $36 per share 10 The directors declared as 10% share dividend distributable on February 5 to the January 30 shareholders of record. The shares were tradint at $45.90 pershare. 30 Date of record regarding the 10% share dividend Feb. 5 Date of distribution regarding the 10% share dividend July Sold 300 preferred shares at $63 per share. Sept. The directors declared a total cash dividend of $41,002 payable on October to the September 20 shareholders of record Oct The cash dividend declared on September Siwas paid Dec 31 Closed the $463,600 credit balance in the Profit Summary account to retained Earnings Closed the dividend accounts Required 1. Prepare journal entries to record the transactions and closings for 2020 (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.)