b$)$ Record the following transactions for $2019$ in the General Journal $(20\%)$:

$2019$

Jan $3$ Issued $20,000$ common shares for cash at $$11$ per share.

$4$ Issued $1,000$ preferred shares for cash at $$10$ per share.

$4$ Exchanged $$50,000$ cash and $25,000$ common shares for a building with a market value of

$$260,000.$

Feb $1$ Tudhope needs to raise capital for a factory expansion. The board of directors has just concluded negotiations

with an underwriter to issue $$500,000$ of $8\%,15-$year callable bonds with interest payment dates of July $31$ and Jan $31.$ The bonds are issued on Feb $1,2019,$ at $102\mathrm{.}5.$ Wright's year end is December $31$ and effective interest is used. The annual market rate on Feb $1$ is $7\%.$

Mar $2$ Declared cash dividends in the amount of $$50,000$ to be distributed on March $15$th to the shareholders of record on March $10$th$.$

Mar $15$ Paid the cash dividends declared on March $1.$

May $10$ Declared a $10\%$ stock dividend for the shareholders of record on May $31.$ Market price of the shares on this

date is $$12$ per share.

May $31$ Distributed the stock dividend.

July $31$ Made the first interest payment on the bonds issued on February $1.$

Aug $1$ Repurchased $5,000$ of its common shares. The market price on this date is $$14$ per share.

Nov $15$ Declared a $1$ for $2$ stock split on the common shares outstanding.

Dec $31$ Closed the Income Summary account to Retained Earnings in the amount of $$83,000.$

c$)$ Prepare a Statement of Changes in Equity for Tudhope for December $31,2019(10\%).$