+ Shareholders' Equity Contributed Capital Preferred shares, $0.75 cumulative (1 year in arrears), 100,000 shares authorized, $300,000 30,000 shares issued and outstanding Common shares, unlimited number of shares authorized, 250.000 25,000 shares issued and outstanding Total Contributed capital 550.000 Retained Earnings 440.000 Total Shareholders' Equity $990,000 The following are transactions that happened during the year 2020: Jan. 17: declared a cash dividend of $35,000, payable on feb 28 to the shareholders of record on February 10. Indicate the amount payable to each class of shareholder. Feb.25: issued 12,000 common shares for $6 per share. Feb 28: Paid the cash dividend declared on January 17 March 24 declared a 10% stock dividend on common shares. The market value of the shares was $8 per share. April 3: distributed the stock dividend declared on March 24. June 20: repurchased 10,000 of the company's own common shares at $9 per share. August 17: issued 6,000 common shares for S9 per share. October 27: split the common shares 2 for 1 Dec. 31: Close net income of $100,000 to Retained Earnings. Required: Record the transactions in the general journal. Present the shareholders' equity section of the balance sheet as of December 31, 2020 o