Study George Weston Ltd.'s January 8, 2020, share issuance entry given on pages 400-401, and answer these questions about the nature of the transaction:

1. If George Weston had sold the shares for \(\$ 80\), would the \(\$ 30(\$ 80-\$ 50)\) be profit for George Weston?

2. Suppose the shares had been issued at different times and different prices. Will shares issued at higher prices have more rights than those issued at lower prices? Give the reason for your answer.

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ACCOUNT FOR THE ISSUANCE OF SHARES Large corporations, such as Hudson's Bay Company and EnCana Corp., need huge amounts of money to operate. Such corporations usually sell their newly issued shares though an underwriter, such as the brokerage firms ScotiaMcLeod and BMO Nesbitt Burns. ISSUING SHARES FOR CASH. Suppose that on January 8, 2020, George Weston Ltd. issued 100,000 common shares for cash for $50 each. The entry to record the issu- ance of these shares is: