Part III During the discussion about financing, Lori mentions that one of her clients, Roberto Marino, has approached her about buying a significant interest in the new club. Having an interested investor sways the three to issue equity securities to provide the financing they need. On July 21, 2021, Mr Marino buys 90,000 shares at a price of 10 per share. The club, LifePath Fitness, opens on January 12, 2022, and after a slow start begins to produce the revenue desired by the owners. The owners decide to pay themselves a share dividend since cash has been less than abundant since they opened their doors. The 10% share dividend is declared by the owners on July 27, 2022. The market price of the shares is 3 on the declaration date. The date of record is July 31, 2022 (there have been no changes in share ownership since the initial issuance), and the issue date is August 15, 2022. By the middle of the fourth quarter of 2022, the cash flow of LifePath Fitness has improved to the point that the owners feel ready to pay themselves a cash dividend. They declare a 0.05 cash dividend per share on December 4, 2022. The record date is December 14, 2022, and the payment date is December 24, 2022. nstructions c. (1) Record all of the transactions related to the ordinary shares of LifePath Fitness during the years 2021 and 2022. (2) Indicate how many shares are issued and outstanding after the share dividend is issued