On 31 December 2015, CoffeeForU Ltd had 2 000 000 shares. The equity accounts at 31 December 2015 had the balances listed as follows.

Share capital $2 000 000

Revaluation surplus $400 000

Retained earnings $1 300 000

Transactions during 2016 and other information related to equity accounts were as follows.

1. On 9 January 2016, issued 200 000 shares for $4 cash.

2. On 10 June 2016, declared a cash dividend of 15% of share capital, payable on

10 July 2016 to shareholders.

Required

(a) Prepare journal entries to record the above transactions.

(b) Prepare the equity section of CoffeeForU Ltd's statement of financial position as at

30 June 2016.