DRIVEIN Ltd. was incorporated on January 1, 2022. During the year the company entered into the following transactions:

Jan 5 Issued 50,000 common shares for $3.00 per share. Jan 20 Issued 4,000 common shares to settle legal expenses. The value of the legal expenses was $15,000. Feb 10 Issued 15,000 preferred shares for $20.00 per share. Aug 12 Repurchased 15,000 common shares for $2.40 per share. Oct 1 Issued 5,000 common shares for $2.50 per share. Dec 31 Repurchased 20,000 common shares for $3.50 per share. Instructions Record the above transactions. (Show all your work)