$3.$ Bell Inc. began operations on January $1,2017,$ and immediately issued $7000$ common shares for cash of $$3\mathrm{.}5$ per share. On January $3,700$ common shares were issued to promoters in exchange for their services in selling shares of the corporation. The costs were charged to organization expenses. The shares were valued at $$1300.$ On January $12,5000$ preferred shares were issued for cash of $$8\mathrm{.}00$ per share. On February $2,10000$ common shares were issued in exchange two trucks at $ $28000.$ On February $26,2000$ more preferred shares were issued for total cash of $$16000.$a$.$ Prepare a journal entry an accountant would use to record the transactions $[8]$b$.$ Prepare a statement of change in equity for the month ended in February $28,2017.$Assume a loss of $$7000$ was realized in January, profit earned was $$60000$ and dividendstotalling $$7000$ had been declared and paid in February.$[8]$c$.$ Assume the assets totalled to $$400000$ at February $28,2017,$ what percentage of the assetswas financed by $[10]$i$.$ Total debtii. Total equityiii. Equity of preferred shareholdersiv. Equity of common share holdersv. Book value per sharevi. Return on equityBell Inc. began operations on January $1,2017,$ and immediately issued $7000$ common shares for cash of $$3\mathrm{.}5$ per share. On January $3,700$ common shares were issued to promoters in exchange for their services in selling shares of the corporation. The costs were charged to organization expenses. The shares were valued at $$1300.$ On January $12,5000$ preferred shares were issued for cash of $$8\mathrm{.}00$ per share. On February $2,10000$ common shares were issued in exchange two trucks at $$28000.$ On February $26,2000$ more preferred shares were issued for total cash of $$16000.$

a$.$ Prepare a journal entry an accountant would use to record the transactions

$[8]$

b$.$ Prepare a statement of change in equity for the month ended in February $28,2017.$ Assume a loss of $$7000$ was realized in January, profit earned was $$60000$ and dividends totalling $$7000$ had been declared and paid in February.$[8]$

c$.$ Assume the assets totalled to $$400000$ at February $28,2017,$ what percentage of the assets was financed by

$[10]$

i$.$ Total debt

ii$.$ Total equity

iii. Equity of preferred shareholders

iv$.$ Equity of common share holders

v$.$ Book value per share

vi$.$ Return on equity