Earth Star Diamonds Inc, began a potentially lucrative mining operation on October 1,2023 it is authorized to issue 100.000 shares of $0.60 cumulative preferred shares and 500,000 common shares. The company uses the cash dividends account to keep track of all dividends declared. Part A Required: Prepare journal entries for each of the transactions listed. Oct. 1 Issued for cash, 1,000 shares of the prefecred shares at $5.20 each. 10 Issued for cash, 54,006 shares of the common shares at $4.00 per share. 15 Earth star purchased land for $190,008, paying cash of $68,009 and bocrowing the balance from the bank (to be repaid in two years). 2017,0e6 preferred shares were issued today for total cash proceeds of $96,560. 24 In addition to the declaration of the annual dividend on the preferred shares, dividends of $26,920 were declared on the comon shares today, payable November 15 , 2023. 31 Revenues of $940,600 were earned during the ponth; all cash. Expenses, all cash. totaling $320, 0ee were incurred in october. Close the Incone Sumerary and dividend accounts. Required: Based on the transactions in Part A, prepare the balance sheet as at October 31, 2023