1. Prepare journal entries for the above transactions for the year ended 30 June 2017. Narrations are NOT required.

2. Prepare the equity section of the statement of financial position (balance sheet) as at 30 June 2017, assuming that profit for the year was $1 850 000

On 1 July 2016, Grey Ltd.s share capital comprises 190 000 issued ordinary shares ($1900 000) and retained earnings of $700 000. During the year ended 30 June 2017, the following transactions occurred. Oct 1 Issued 6 000 additional ordinary shares for $15 per share. Dec 15 Declared a cash dividend of $5 per share to ordinary shareholders. Jan 10 Paid the cash dividend that was declared on 15 December 2016 June 1 Issued 8 000 additional ordinary shares for $18 per share. June 15 Declared a cash dividend on issued ordinary shares of $5.60 per share to shareholders