On 31st March, 2016, following was the Balance Sheet of New Era Ltd.: $ in lakhs I. Equity and Liabilities (1) Shareholders' Funds (a) Share Capital: Fully paid-up Equity Shares of $10 each (b) Reserves and Surplus (i) Securities Premium Reserve (ii) General Reserve (iii) Surplus Account (2) Non-current Liabilities 12% Debentures (3) Current Liabilities (i) Sundry Creditors (ii) Sundry Provisions Total Equity and Liabilities II. Assets (1) (a) Fixed Assets Non-current Assets (2) (i) Machinery (ii) Furniture Investments Current Assets (a) (b) (c) Stock Debtors Cash at Bank Total Assets 2,400 350 930 340 1,500 750 390 6,660 3,600 452 148 1,200 520 740 6,660 On 1st April, 2016, the company announced the buy-back of 25% of its equity shares @ $15 per share. For the purpose, it sold all of its investments for $ 150 lakh and issued 2,00,000 14% preference shares of $ 100 each at par, the entire amount being payable with application. The issue was fully subscribed. The company achieved the target of the buy-back. Later, the company issued one fully paid up equity share of 7 10 by way of bonus share for equity shares held by the equity shareholders. Show Journal Entries for all the transactions including cash transactions