Current Attempt in Progress Flint Limited was organized on January 1, 2020. It is authorized to issue 11,000 8%, HK$1,000 par value preference shares, and 511,000 no-par ordinary shares with a stated value of HK$20 per share. The following share transactions were completed during the first year. Jan. 10 Issued 82,000 ordinary shares for cash at HK$48 per share. Mar. 1 Issued 5,700 preference shares for cash at HK$1,050 per share. Apr. 1 May 1 Aug- 1 Sept. 1 Nov. 1 Issued 20,000 ordinary shares for land. The asking price of the land was HK$984,000. The fair value of the land was HK$931,000. Issued 81,000 shares of ordinary shares for cash at HK$46 per share. Issued 10,500 ordinary shares to attorneys in payment of their bill of HK$336,000 for services provided in helping the company organize. Issued 11,500 ordinary shares for cash at HK$55 per share. Issued 3,000 preference shares for cash at HK$1,060 per share. Journalize the transactions. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Post to the equity accounts. (Post entries in the order of journal entries presented in the previous part.) Share Capital-Preference Date Explanation Ref. Debit J5 J5 Credit Balance Share Capital-Ordinary Date Explanation Ref. Debit Credit Balance > J5 J5 J5 J5 J5 Explanation Ref. Debit Credit Balance Share Premium-Preference Date J5 J5 Explanation Ref. Debit Credit Balance J5 Share Premium-Ordinary Date > > > > J5 J5 J5 J5 Prepare the share capital section of the statement of financial position at December 31, 2020. FLINT LIMITED Statement of Financial Position (Partial) HK$ HK$