On January 1, the JDS Corporation had 40,000 of common shares outstanding originally issued at $780,900. The corporation is authorized to issue an unlimited number of common shares. Contributed surplus - reacquisition of shares was $2,500 and retained earnings was $2,150,000 on that date. The following transactions occurred during the year. Calculate average cost to the nearest $0.01: Jan. 16 Sold 3,000 common shares to investors at $10.50 per share in cash. Mar. 20 Repurchased (bought back) 4,500 of its own common shares from investors at $24.00 per share with cash. N Sept 6 Board of Directors declared a 15% stock dividend to common shareholders owing shares as of Sept. 15. The market price per common share was $19.00 on September 6 and the stock dividend was distributed to shareholders on October 3. Nov. 7 Board of Directors declared a $1.10 per share cash dividend to common shareholders. The date of record was November 15 and the distribution date was November 30. Dec. 31 The Corporation reported expenses of $3,250,000 and revenues of $3,299,000 for the year. Instructions: a) Prepare the journal entries related to the above transactions. b) Prepare the shareholders' equity section of the year-end balance sheet, December 31