Problem 13-4A Dividends, retirement, statement of changes in equityLO1, 2,5 CHECK FIGURES: 2. Dec. 31, 2023 Retained Earnings = $613,062; Total equity = $1,998,482 Note: Problem 13-4B covers LO1,5 with no retirement of shares. Zen Aerospace Corporation reported the following equity account balances on December 31, 2022: Preferred shares, $3.60 cumulative, unlimited shares authorized Common shares, unlimited shares authorized, 29,500 shares issued and outstanding Retained earnings In 2023, the company had the following transactions affecting shareholders and the shareholders' equity accounts: Jan. Feb. July Sept. Oct. Dec. $ -0- 814.200 343.000 1 Purchased and retired 3,900 common shares at $36 per share. 14 The directors declared an 11% share dividend distributable on February 5 to the January 30 shareholders of record. The shares were trading at $47.50 per share. 30 Date of record regarding the 11% share dividend. 5 Date of distribution regarding the 11% share dividend. 6 Sold 6,900 preferred shares at $79 per share. 5 The directors declared a total cash dividend of $48,018 payable on October 5 to the September 20 shareholders of record. 5 The cash dividend declared on September 5 was paid. 31 Closed the $484,600 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). 2. Prepare the statement of changes in equity for the year ended December 31, 2023.

Problem 13-4A Dividends, retirement, statement of changes in equlty L LO1, 2,55 CHECK FIGURES: 2. Dec. 31, 2023 Retained Earnings =$613,062; Total equity =$1,998,482 Zen Aerospace Corporation reported the following equity account balances on December 31,2022 : Preferred shares, $3.60 cumulative, unlimited shares authorized Common shares, unlimited shares authorized, 29,500 shares issued and outstanding Retained earnings 814.200 343,000 In 2023, the company had the following transactions affecting shareholders and the shareholders' equity accounts: Jan. I Purchased and retired 3,900 common shares at $36 per share. 14 The directors declared an 11% share dividend distributable on February 5 to the January 30 shareholders of reeord. The shares were trading at $47.50 per share 30 Date of record regarding the 11% share dividend Feb. 5 Date of distribution regarding the 11% share dividend. July 6 Sold 6.900 preferred shares at $79 per share. Sept. 5 The directors declared a total cash dividend of $48.018 pyable on October 5 to the September 20 shareholders of record. Oct. 5. The eash dividend deelared on September 5 was paid. Dee. 31 Cloned the $484,600 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 Acrospace). 2. Prepare the statement of changes in equity for the year ended December 31,2023