Parsons Planes is a charter airline with a fleet of Metro planes. On Jan 1, 2019 it had 50000 common shares issued and outstanding, and a 300000 credit in the Common Shares account. On June 1, 2019 the company declared a 8% share dividend, distributable on June 30 to shareholders of record June 20. Shares were trading for $7 on June 1, $7.25 on June 15, and $7.3 on June 30. On August 1, Parsons issued another 12000 sharos at $7 5 each. On Dec 31, Parsons declared and paid a cash dividend of $0.45 per share. Profit for the year was $45000. 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 Share (EPS) for the year (round to 3 decimals) c)What is the balance in the common shares account on Dec 31, 2019?

Date	Account Description	Debit	Credit