please answer both. this is my last question. i've finished all question limit of 20 questions. thank you

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Penny Worth Corporation, a publicly traded company, was organized on January 1, 2021. It is authorized to issue an unlimited number of $3 noncumulative preferred shares and an unlimited number of common shares. The following share transactions were completed during the company's first year of operations: Jan 10 Mar. 1 May 1 June 1 July 24 Issued 1,000,000 common shares for $2 per share. Issued 18,000 preferred shares for $50 per share. Issued 250,000 common shares for $3 per share. Repurchased and retired 9,000 common shares at $2 per share. Determine the average cost of each repurchased share to the nearest cent before recording this transaction Issued 33,700 common shares for $108,000 cash and used equipment. The equipment would have cost $28,000 if Remmers had purchased it new and a recent appraisal determined that the equipment had a fair value of $15,000. The common shares were trading for $4 per share on this date. Issued 9,000 common shares for $5 per share. Issued 4,300 preferred shares for $50 per share. Repurchased and retired 14,000 common shares at $4 per share. Determine the average cost of each repurchased Share to the nearest cent before recording this transaction. Declared a $75,000 cash dividend to the preferred shareholders, to shareholders of record on December 31, payable on January 10 Reported net income of $1.27 million for the year Sept. 4 Nov. 1 20 Dec. 14 31 Record the above transactions for 2021, including any required entries to close dividends declared and net income. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Round average cost per share to 2 decimal palces, e.g. 2.25 and final answers to decimal places.) Transaction entries: Debit Account Titles and Explanation Date Credit AL : I he Closing entries: Debit Credit Date Account Titles and Explanation Dec. 31 (To close cash dividends) Saqib Abbas Closing entries: Date Account Titles and Explanation Debit Credit Dec. 31 (To close cash dividends) Dec. 31 (To close profit) Open Taccounts and post to the shareholders' equity accounts. (Record entries in the order presented in the problem Preferred Shares Common Shares . Contributed Surplus Dividends Declared Retained Earnings Prepare the shareholders' equity section of the statement of financial position at December 31. (Enter account name only and do not provide descriptive information.) PENNYWORTH CORPORATION Statement of Financial Position (Partial) $ The following accounts appear in the ledger of Handley Inc. after the books are closed at December 31, 2021: $55,290 855,000 102,600 Accumulated other comprehensive income Common shares (unlimited number of shares authorized, 285,000 shares issued) Stock dividends distributable Contributed surplus Preferred shares ($1.4 noncumulative, 114.000 shares authorized, 11,400 shares issued) Retained earnings (df which $637,600 is restricted for a plant expansion) 69.540 285.000 1,527,600 Prepare the shareholders' equity section of Handley's statement of financial position, including anyrequired note disclosure (Enter account name only and do not provide descriptive information, Enter negative amounts using either a negative sign preceding the number e.3. -45 or parentheses e.s. (45).) HANDLEY INC. Statement of Financial Position (Partial) December 31, 2021 Shareholders' Equity Contributed Surplus Share Capital $ Preferred Shares + 285000 Common Shares 855000 Stock Dividends Distributable $ 102600 Total Share Capital 1242600 Contributed Surplus 69540 Retained Earnings 1527600 Accumulated Other Comprehensive Income . Total Shareholders' Equity Saqib Abbas