Mark Inc. has authorized share capital of an unlimited number of common shares and 1,000,000 preferred, $3 preferred shares. At January 1, 2019, the balance in its shareholders equity includes $45,000 in common shares representing 15,000 shares and $30,000 in preferred shares representing 1,000 shares and retained earnings of $185,000. Profit for the year ending December 31, 2019 was $30,000. No dividends were declared during 2019. During 2019, Mark Inc. had the following share transactions: Mar 1 Issued 4,000 common shares for $7 each. Jun 30 Issued 500 preferred shares for $11 each. Sep 1 Issued 60,000 common shares in exchange for land valued at $285,000. Required: a) Journalize the share transactions. (8 marks) b) Prepare the equity section of Mark Inc. balance sheet at December 31, 2017 and describe any additional disclosure required related to share capital. (12 marks)