Hi, I am having trouble with this question and could really use the help. Thank you.

ssignment 10 instructions I help Question 1 (of 2) A Save & Exit Submit value: 10.00 points P11-2 Recording Transactions Affecting Shareholders' Equity LO11-3, 11-7, 11-8 King Corporation began operations in January 2018. The charter authorized the following share capital: Preferred shares: 7 percent, $20 par value, authorized 42,000 shares. Common shares: no par value, authorized 102,000 shares. During 2018, the following transactions occurred in the order given: a. Sold and issued 21,000 common shares to each of the three organizers. Collected $10 cash per share from two of the organizers, and received a plot of land with a small building on it in full payment for the shares of the third organizer and issued the shares immediately. Assume that 30 percent of the non- cash payment received applies to the building. b. Sold and issued 6,200 preferred shares at $20 per share. Collected the cash and issued the shares immediately. c. Sold and issued 2,200 preferred shares at $20 and 2,200 common shares at $13 per share. Collected the cash and issued the shares immediately. d. The operating results at the end of 2018 were as follows: Revenues Expenses, including income taxes $ 340,000 235,000 3. Prepare the shareholders' equity section of the statement of financial position for King Corporation as at December 31, 2018. KING CORPORATION Shareholders' Equity December 31, 2018 Share capital: Preferred shares Common shares Retained earnings Total shareholders' equity $