a. Sold 30,000 preference shares, 12%, P100 par, at P140. b. Sold 100,000 ordinary shares of P50 par a c. Purchased and retired 10,000 preference shares at P120. d. Purchased 15,000 ordinary shares at P52 to be held as t P55. treasury. e. Sold 10,000 treasury ordinary shares at P60. f. Shareholders donated to the entity 20,000 ordinary shares when shares had a market price of P60. One h of these shares were sold for P65. Net income for the year was P3,000,000. G cost of treasury shares. h. Appropriated retained earnings equal to the remaining Required 1. Prepare journal entries to record the transactions. 2. Present the shareholders' equity