1. The following information and transactions took place during 2018: January 2: Lebeok Inc. was formed by issuing Acommon shares at a price of S/B per share. January 4: preferred shares were issued for a total of Each share is entitled to a s e per year non-cumulative dividend. March 25: Declared a common share cash dividend of $20,000 to be made on April 30. (Hint: don't forget about the preferred shareholders.) April 30: Paid the cash dividends declared on March 25. October 9: Declared and issued a f common share dividend. The value of the shares was s/ each, at the time of declaration. (NOTE: no impact on preferred shareholders) Nov. 15: Repurchased and retired) 100 common shares, paying $15.10 per share. Dec. 31: Closed Income Summary to Retained Earnings for the year's net Hof $90,000. Instructions: a) Prepare the journal entries for the above items. (17 marks) b) Based on the above information, what is the total value of shareholders' equity on December 31? (4 marks) Question 1 Block A 900 B 16.00 D 120,000 E 35 F 11% G 19.00 H profit 450