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Monty Ltd. was incorporated on January 1, 2022. During the year the company entered into the following transactions: Jan 5 Issued 60,000 common shares for $2.50 per share. Jan 20 Issued 2.500 common shares to settle legal expenses. The value of the legal expenses was $9,375. Feb 10 Issued 11,000 preferred shares for $50.00 per share. Aug 12 Repurchased 15,000 common shares for $2.40 per share. Oct 1 Issued 4.900 common shares for $2.25 per share. Dec 31 Repurchased 37,500 common shares for $2.65 per share. Date Account Titles and Explanation Debit Credit Jans Cash Common Shares \begin{tabular}{|r|} \hline 150000 \\ \hline \end{tabular} Legal Expense \begin{tabular}{|r|} \hline 9375 \\ \hline \end{tabular} Common shares Feb 10 - Caun 550000 Preferred Shares Common Shares Contributed Surplus: Cash Dec 15 Common Shares Contributed Surplus 2250 Retained Earnines Cash