E11-10 Suliman Corporation is authorized to issue both preference and ordinary shares. The par value of the preference shares is $50. During the first year of operations, the company had the following events and transactions pertaining to its preference shares. Feb. 1 Issued 12,000 shares for cash at $53 per share. July 1 Issued 23,000 shares for cash at $57 per share. Instructions (a) Journalize the transactions. (b) Post to the equity accounts. (c) Indicate the financial statement presentation of the related accounts. Journalize preference share transactions and indicate statement presentation. (LO4,7)