Durian Bhd has an authorized capital of RM1500,000 comprising ordinary share of RM1.00 each. Out of these the company decided to issue 7500,000 shares of RM 1 each to the public. The shares were issued at premium, payment being made as follows: RM 1 Jan Payable on application 0.40 (Incl. share premium of RM0.30) 20 Feb Payable on allotment 0.45 15 Mar First call 0.25 10 April Last call 0.20 Applications were received for 1,180,000 shares. It was decided to refund application monies on 180,000 shares and to allot the shares on the basis of three for every four applied for. The excess of application monies sent by the successful applicants are not to be refunded but are to be held and so reduce the amount payable on allotment. The call were made and paid in full by the members, with the exception of one who failed to pay the last call on the 7,000 shares allotted to him. The shares were forfeited and reissued to Ibrahim at RM0.60 each. Required: (a) Prepare the journal entries to record the issue of shares. (b) Prepare the relevant extracts from a statement of financial position after the transactions has been completed