Grouper Limited has been authorized to issue 21,000 102 par value, 10%, non-cumulative preference shares and 1,129,128 no-par ordinary shares. The corporation assigned a 2.73 stated shares. At December 31, 2017, the ledger contained the following balances pertaining to equity. Share Capital-Preference Share Premium-Preference Share Capital-Ordinary Share Premium-Ordinary Treasury Shares-Ordinary (1,000 shares) Share Premium-Treasury Retained Earnings 109,140 25,960 1,129,128 1,741,500 9,000 1,000 83,700 The preference shares were issued for land having a fair value of 135,100. All ordinary shares issued were for cash. In November, 1,500 ordinary shares were purchased for the treasury at a In December, 500 treasury shares were sold for 11 per share. No dividends were declared in 2017. Prepare the journal entries for the: (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (1) Issuance of preference shares for land. (2) Issuance of ordinary shares for cash. (3) Purchase of treasury shares (ordinary) for cash. (4) Sale of treasury shares for cash. No. Account Titles and Explanation 1. 2. Debit Credit Prepare the equity section at December 31, 2017. GROUPER LIMITED Statement of Financial Position (Partial) 2. 3. 4. SHOW LIST OF ACCOUNTS Prepare the equity section at December 31, 2017. GROUPER LIMITED Statement of Financial Position (Partial)