Aloue Corp,a publicly traded company,had 2,500 preferred shares issued with a balance of $55,000 and 151,000 common shares issued with a balance of $755,000 at the beginning of the year. The following share transactions occurred during the year: Issued 52,600 common shares for $6 per share June 12 July Issued 1,100 preferred shares for $26per share. 11 1ssued 11000 common shares in exchange for land. The common shares were trading for $7 per share on that date. The fair value of the land was estimated to be $81,800 Oct. 1 Issued 22,600preferred shares for $$28 per share. Nov. 15 a) Record the above transactions. (b) Calculate the number of shares and balance in the account for each of the preferred and common shares at the end of the year. Number of shares Balance in accounts Preferred shares $ (1) (2) Common shares Please help and explain all your steps. Thank you