activity related to shareholders' equity is outined below. At that time, the company issued 1,000 common shares at 310 each. Other June 12 Issued 31,980 comenon shares for cashat $14 per share. June 30 Issued 1,640 common shares to a Iaw firm in settlement of their bill for $24,600. (Use Legal Fees Expense) On June 30 , the shares had a fair value of $13 each. July 11 Issued 820 convertible preferred shares for $45 per share. Each share was convertible into 4 common shares. Oct. 1 Issued 4,920 common shares in exchange for land. The common shares were trading at $12 per share on that date. The land's fair value was estimated to be $59.532. Nov. 15 Issued 1,230 convertible preferred shares for $50 per share. Each share was convertible into 4 common shares. Nov. 22 Preferred shareholders converted 410 of the convertible preferred shares into common shares. The fair values of the common and preferred shares on that day were $12 and $50 respectively. Record the share transactions. (Credit occount titles are outomotically indented when the amount is entered. Do not indent manually. if no entry is required, select "No Entry" for the account titles and