Great-West Lifeco Inc.announced the Following Share Issuances

Great-West Lifeco Inc.announced the following share issuances:
March 1,2008
10,000,000 2% non-cumulative five-year rate reset first preferred shares (series J)for par value of $12 each.After five years the dividend rate will be reset to the five-year Canada bond rate plus 3.35%.Dividends are payable as declared by the board of directors.
April 9,2008
28,350,000 common shares for $19.25 per share.This represents approximately 4.6% of Lifeco's total outstanding common shares.
The CEO of the company stated the following regarding these share issuances:
For many years,Great-West Life and its subsidiaries have pursued a risk-averse strategy with respect to both liabilities and assets.Consequently,today the company's balance sheet is one of the strongest in its industry.With this issue,the company will move forward with an enhanced capability to take advantage of market opportunities.
Required:
a.Prepare the journal entries to record the share issuances.
b.Explain how the share issuances result in a "risk-averse strategy with respect to both liabilities and assets," and how this results in a strong balance sheet that allows the company to take advantage of market opportunities,such as profitable investments.
c.Assume the board of directors declares dividends on December 31,2008 in the amount of $15,000,000.Calculate the amount of dividends to be paid to preferred shareholders and common shareholders (assume the company only has the above stated series of preferred shares outstanding).