The following are selected transactions that may affect shareholders equity. Assuming the company follows IFRS $($including IAS $39),$ indicate the effect that each of the $13$ transactions has on the financial statement elements that are listed.$($Equity Items on SFP$)$ The following are selected transactions that may affect shareholders equity:$1-$Converted bonds to common shares$\mathrm{.}2-$Declared a cash dividend$\mathrm{.}3-$Effected a stock split$\mathrm{.}4-$Recorded the expiration of insurance coverage that was previously recorded as prepaid insurance$\mathrm{.}5-$Paid the cash dividend declared in item $2$ above$\mathrm{.}6-$Recorded accrued interest expense on a note payable$\mathrm{.}7-$Recorded an increase in the fair value of an FV$-$OCI investment in shares that will be distributed as a property dividend. The carrying amount of the FV$-$OCI investment was greater than its cost. The shares are traded in an active market$\mathrm{.}8-$Declared a property dividend $($see item $7$ above$)\mathrm{.}9-$Distributed the investment to shareholders $($see items $7$ and $8$ above$)\mathrm{.}10-$Declared a stock dividend$\mathrm{.}11-$Distributed the stock dividend declared in item $10\mathrm{.}12-$Repurchased common shares for less than their initial issue price$\mathrm{.}13-$ Converted preferred shares into common shares.InstructionsIn the table below, assuming the company follows IFRS $($including IAS $39),$ indicate the effect that each of the $13$ transactions has on the financial statement elements that are listed. Use the following codes: increase $($I$),$ decrease $($D$),$ and no effect $($NE$).$ Write I$/$D where there is both an increase and a decrease to the same element.ItemAssetsLiabilitiesShareholders EquityShare CapitalContributed SurplusRetained EarningsAccumulated Other Comprehensive IncomeNet Income