Ayayai Corporation, a private corporation, was organized on February $1,2023.$ It is authorized to issue $98,400,$$$6$ noncumulative preferred shares, and an unlimited number of common shares. The following transactions were completed during the first year:Feb. $10$ Issued $78,720$ common shares at $$4$per share. Mar. $1$ Issued $4,920$ preferred shares at $$114$ per share. Apr. $1$ Issued $22,140$ common shares for land. The land's asking price wa $$98,400$and its appraised value was $$88,560$June $20$ Issued $76,752$ common shares at $$4\mathrm{.}50$ per share. July $7$ issued $9,840$ common shares to lawyers to pay for their bill of $$44,280$ for services they performed in helping the company organizeSept. $1$ Issued $9,840$ common shares at $$5$per share. Nov. $1$ Issued $984$ preferred shares at $$120$ per$$share$\mathrm{.}1.$Journalize the transaction$2.$Open General ledger acconts and post to the shareholders equity accounts: prefered shares and common shares$\mathrm{.}3.$ Determine the number of shares issued and the average per share amount for both common and prefered shares$\mathrm{.}4.$ How many more shares is the company authorized to issues for each class of shares.