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Fun City Inc. ended 2016 with Smillion common shares issued and outstanding. The average issue price was $ 1.50. Beginning retained earnings totalled $ 40million. In March 2017, Fun City issued 2million common shares at a price of $ 2. In May, the company distributed a 10% stock dividend at a time when Fun City's common shares had a fair value of $ 3. Then in October, Fun City's stock price dropped to $ 1per share and the company executed a 1-for-2 stock split For the year, Fun City earned net income of $ 26 million and declared cash dividends of 17 million. . Required: - Journalize the above transactions Show the Equity balance before and after the above transactions