E11-10 Suliman SJSC 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