Parsons Planes is a charter airline with a fleet of King Air planes. On Jan 1, 2019 it had 40000 common shares issued and outstanding, and a 200000 credit in the Common Shares account. On June 1, 2019 the company declared a 5% share dividend, distributable on June 30 to shareholders of record June 20. Shares were trading for $8 on June 1, $7.5 on June 15, and $7.4 on June 30. On August 1, Parsons issued another 10000 shares at $7.2 each. On Dec 31, Parsons declared and paid a cash dividend of $0.55 per share. Profit for the year was $50000. Required: a) Prepare all necessary journal entries for the above transactions, from June 1, 2019 to Dec 31, 2019. (There should be 5 entries in total including recording the profit.) b) Calculate the Earnings Per S/hare (EPS) for the year (round to 3 decimals) What is the balance in the common shares account on Dec 31, 2019?