Mac & Cheese, Inc. is authorized to issue an unlimited number of common shares and 10.000 prefered shares. During its first year, the business completed the following share July 19 Issued 26.000 common shares for cash of $6.50 per share Od 3 Issued 1,200 $3.00 preferred shares for $120,000 cash 11 Received Inventory valued at $15,000 and equipment with fair value of $10.500 for 3,600 common shares Required 1. Joamalize the transactions Explanations are not required. 2. Prepare the shareholders' equity section of Mac & Cheese's balance sheet. The ending balance of Retained Earnings in a deficit i of $42,000. Dato Oct Journal Entry Accounts Debit Credit Finally journalzie the October 11 transaction. Received inventory valued at $15.000 and equipment with a fair value of $10,500 for 3.600 common shares Choose from any ast or enter any number in the input feids and then continue to the next question 1204 PM 11/15/200