Current Attempt in Progress Novak Limited was organized on January 1, 2020. It is authorized to issue 13,000 8%, HK$1,000 par value preference shares, and 484,000 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 Mar. 1 Issued 77,500 ordinary shares for cash at HK$48 per share. Issued 5,750 preference shares for cash at HK$1,050 per share. Issued 19,000 ordinary shares for land. The asking price of the land was HK$1,000,000. The fair value of the land was Apr. 1 HK$932,000, May 1 Aug 1 Issued 75,000 shares of ordinary shares for cash at HK$46 per share. Issued 10,000 ordinary shares to attorneys in payment of their bill of HK$343,000 for services provided in helping the company organize. Issued 11,500 ordinary shares for cash at HK$50 per share. Issued 3,000 preference shares for cash at HK$1,060 per share. Sept. 1 Nov. 1 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 - Cral Orinary Explanation et Cuters Salman upinati Co| Gral Mahato Sainary as| ora| al Prepare the share capital section of the statement of financial position at December 31, 2020 NOVAK LIMITED Statement of Financial Position (Partial) HKS R HKS