Required

What does the $$0\mathrm{.}20$ mean for the preferred shares? If Sloboda Corporation issued $4,000$ preferred shares, how much in cash dividends will Sloboda Corporation expect to pay per year?

At what average price per share did Sloboda Corporation issue the common shares?

Were first$-$year operations profitable? Give your reason.

Journalize the share transactions that took place during $2023.$ Explanations are not required.

a$.$ Issued for cash $10,000$ preferred shares at $$2\mathrm{.}50$ per share

b$.$ Issued for cash $1,000$ common shares at a price of $$9\mathrm{.}00$ per share.

c$.$ Issued $25,000$ common shares to acquire a building valued at $$235,000.$

d$.$ Net income for the year was $$62,500,$ and the company declared no dividends. Make the closing entry for net income.

Prepare the shareholders' equity section of the Sloboda Corporation balance sheet as of December $31,2022.$