324,700 Question 1 Paul's Planters Inc. ended 2021 with the following in their shareholders' equity section on the balance sheet: Shareholders' Equity Contributed Capital Common shares, 13,000 shares issued and outstanding 128,700 Contributed surplus - Share Repurchase 1.000 Total contributed Capital Retained Earnings 218.000 Total Shareholders' Equity $542.700 The following select transactions took place during the first quarter of 2022: Jan. 7 Repurchased 2,000 of its own common shares for $9,00 per share. Feb. 10 Split the common shares 3 for 1. Mar. 22 Repurchased 8,500 common shares for $5.00 per share. Net income for the quarter was $180,000. No dividends were declared during the quarter. Required: a) Record the journal entry or memo needed for the above transactions (no explanations required). (8 marks) b) Fill in the amount that would appear in the shareholders' equity section for Paul's Planters at Dec 31, 2022. (4 marks) 1. Common Shares 2. Number of common shares outstanding 3. Retained Earnings 4. Total Shareholders' Equity $ $