Penticton Ltd. was incorporated on January 3, 2020 and on that date issued 35,000 common shares for cash at $2.5 each. On March 31, Penticton issued 2,000 preferred, $5 cumulative preferred shares, convertible to common shares at the rate of 4 common shares for one preferred share. The preferred shares were issued for $13 each. On September 18, 800 of the preferred shares were converted to common shares. On that date, the market value was $3.00 for the common shares and $12.50 for the preferred shares. On December 20, 15,000 common shares were reacquired for $2.75 each. Instructions a) Journalize the share transactions described. b) Calculate the number of issued shares and average per share amount of each class remaining at the end of the year. (preferred & common) ***SHOW YOUR WORK FOR PARTIAL MARKS!!*** 7 A- BI Part A Date Account Jan 3 Mar 31 3 A Debit Credit Search or type URL 538 6 W E R T S D F G 7 40 H A 8 9 0 0 J K L C B N M P Journalize the share transactions described Calculate the number of issued shares and average per share amount of each class remaining a e end of the year. (preferred & common) SHOW YOUR WORK FOR PARTIAL MARKSII*** I A B Sept 18 Dec 20 I C # $ 2 3 4 W M G Search or type URL 95 66 E R T Y & fr 4 ( 00 9 0 7 8 D 1 0 P S D F G H J K X and C V B N M b) Calculate the number of issued shares and average per share amount of each class remaining the end of the year. (preferred & common) ***SHOW YOUR WORK FOR PARTIAL MARKS!!*** A- BI Part B Common share price per share Number of common shares Preferred share price per share Number of preferred shares 2 I G Search or type URL 4 5 > 47 U 00 9 0 O V D F G H J K L Q W E R T A Z S X H command C < B N M H command