Amarula Coiporation, which follows ASPE, B authorked to issue 250,00050.50 convertible preterred shares and an untimited number of common shares At is year end on Decembe 31, 2023, the ledger contained the following shareholders' equity balances oepl 1 reacquied o, vou comenon shares for 522 cash per share Instructions A. Record and post the above transactions. B. Prepare summary cosing entries, assuming revenues totalled $1,400,000 and expenses totalicd 51,150,000 C. Calcutate the balances in the sharcholders' ecuity accounts at December 31.2024 D. How many common and preferted shares are is sued at December 31,2024 ? E. Why is it important to repont the number of shaies issued and the number of shares authorzed