Common shares, 2,700,000 shares issued and outstanding $8,100,000 Contributed surplus (Common shares) 17.000 Retained earnings 19,500,000 Total shareholders' equity $27.617,000 The following transactions occurred, in the order given, during 2022: (a) 440 subscriptions were sold for common shares. Each subscription entitled the purchaser to purchase 20 shares in the company at a price of $6 per share. According to the subscription contracts, a payment of $29 per subscription was required at the time the subscriptions were sold. (b) As per the subscription contracts, the second payment was for the balance of the subscription price. All but 60 of the subscribers made this payment. (c) The subscription contracts specify that, in the event of default, the first payment will not be refunded to defaulting subscribers. Also at this time, common shares are issued to subscribers that have fully paid on the contract. (d) Wildhorse repurchased and cancelled 90,000 common shares at a cost of $2.50 per share. A cash dividend of $0.30 per share was declared. The date of record was after all of the events above. (e) Prepare the journal entries to record the above transactions for Wildhorse Ltd. for 2022. (Round average share price to 2 decimal places for your calculations, e.g. 52.75 and final answer to O decimal places, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) transactions for Wildhorse Ltd. for 2022. (Round average share price to 2 decimal places for your calculations, e.g. 52.75 and final answer to O decimal places, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) No. Account Titles and Explanation Debit Credit (a) Share Subscriptions Receivable 12760 Common Shares Subscribed 12760 (To record sale of shares on a subscription basis) Cash 12760 II Share Subscriptions Receivable 12760 (To record collection of down payment) (b) Common Shares Subscribed 34200 Common Shares 34200 (c) Common Shares Subscribed 34200 Share Subscriptions Receivable 11400 Cash 22800 (To record forfeit of payment from defaulting subscribers) Common Shares Subscribed 34200 Common Shares 34200 (To record issuance of shares) (d) Preferred Shares 225000 Cash 208000 Contributed Surplus 17000 (e) Dividends 785280 Dividends Payable 785280