Alpha Beta Inc. was organized on Jan. 1.2021. It is authorized to issue 20.000 preference shares with P50 par value, and 50,000 shares of no-par ordinary shares with stated value of P10. The following stock transactions were completed during 2021: Jan. 10 Issued 10.000 ordinary shares for cash at P35 per share. Mar. 1 Issued 10.000 preference shares for cash at P55 per share. Apr. 1 Issued 2.500 ordinary shares for land. The fair market value of the land was P85,000 May 1 Issued 7.500 ordinary shares for cash at P40 per share. Aug 1 Issued 1,000 ordinary shares to lawyers in payment of their bill for P50,000 pertaining to services rendered in helping the company organize Sept. 1 Issued 500 ordinary shares for cash at P60 per share Nov 1 Issued 2.000 preference shares for cash at PS3 per share. Required 1. Prepare the journal entries 2. Prepare the Share Capital section of the Shareholder's equity as of December 31, 2021 Summarize Total Share Capitals and Share Premiums and present the total amount