2. Journalize the following transactions related to equity issues. a. Assuming no reliable appraisal value for a building. A company accepted 2,000,000 shares of common stock with a par value of $ 2.00 and a current market price of $ 25.00 in exchange for the building. b. Common stock (400,000 shares) and preferred stock (100,000) were exchanged for a sum of $6,000,000. The common stock had a par value of $ 1.00 and a market price of $ 9.00. The preferred shares had a par value of $7.00. c. Desmond Inc. distributed property as a dividend. The company distributed its investment in Honeywell common shares which it carried on its books for $212,000 and had a market value of $450,000 on the date of distribution. a. write up the value of the Honeywell shares to market. b. declare the dividend. 13 E c. distribute the dividend