P15-2 Journalising dividend and buy-back transactions and reporting shareholders' equity-[10-30 min] The balance sheet of Lenngx Health Foods Ltd at 31 December 2015 showed share capital of $190000, composed ordinary shares. Retained earnings had a balance of $115000. During 2016, the company completed the following selected transactions: Mar 15 Bought back 9000 of the company's own ordinary shares at $8 per share. Apr 30 Declared a cash dividend of $0.50 per share on the issued ordinary shares to holders registered on 15 May, with distribution to be made on 30 May. May 30 Paid the cash dividend. Nov5Dec31Splittheordinaryshares3for1.Earnedprofitof$110000duringtheyear.ClosedtheprofittoRetainedearnings. Requirements 1 Record the transactions in the general journal. Explanations aren't required. 2. Prepare the shareholders' equity section of Lennox Health Foods' balance sheet as at 31 December 2016