Exercise 12-6 Issuing shares; equity L02, 3, 4 CHECK FIGURE: b. Total equity = $413,500 Westby Corp., a high school uniform manufacturer, was authorized to issue an unlimited number of common shares. During January 2020, its first month of operations, the following selected transactions occurred: an 1 1,000 shares were issued to the organizers of the corporation The total value of the shares was deterrimed to be $12.000 5 15.000 shares were sold to various sporebolders for $13.50 each. 15 The board of directors declared cash dividend of $0.75 per common share to shareholders of record on January 19, payable January 31 2014,000 shares were issued in exchange for a special piece of land with a book value of $48.000, but no determined For Market Value: The shares were actively trading on this date at $11.50 pershor 31 Closed the Income Summary account, which is vedo credit balance of $165.000. Paid the dividends declared on January Required a. Journalize the above transactions b. Prepare the equity section of Westby's balance sheet at January 21, 2020 c. What was the average issue price per common share? 842