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Pharoah Holdings Inc. has authorized share capital of an unlimited number of common shares and 1 , 0 0 0 , 0 0 0 $

Pharoah Holdings Inc. has authorized share capital of an unlimited number of common shares and 1,000,000 $3-cumulative prefe shares. At January 1,2024, the balances in its share capital accounts were $46,400 in common shares representing 17,900 shares $28,500 in preferred shares representing 1,000 shares. The company had a balance of $56,900 in contributed surplus from previc years' repurchases of common shares. The retained earnings balance on that date was $193,000 and accumulated other comprehensive income was $66,100. Profit for the year ended December 31,2024, was $23,600 and other comprehensive income items for the year were $5,300. There were no dividends in arrears at January 1,2024, and no dividends were declared during 2024.March1. Issued 4,900 common shares for $5 each.
June 30 Issued 800 preferred shares for $11 each.
Sept1 Issued 64,000 common shares in exchange for land valued at $265,600.
Dec1 Reacquired 58,900 cormon shares for $4.80 each. journalize the share entries. prepare the equity section of pharoah's balance sheet at dec 31,2024

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