EXERCISES During 2018, Maldives Corporation reported the following selected transactions: Jan 1 Issued 20,000 common shares at $15 per share. Jun 15 Issued 2.000 common shares at $14 per share in exchange for equipment valued Sep 30 The board of directors declared a 10% common stock dividend. The market price Oct 10 The 10% common stock dividend is distributed. Nov 30 The board of directors declared a cash at $27,000 of the common shares on this date was $12 per share. dividend of $0.22 per share to shareholders of record on December 15, payable on December 20. Instructions Prepare the journal entries to record the above transactions assuming Maldives Corporation follows IFRS. (12)