please gove me the answer of part a and b

Ivanhoe Observation Inc, on May 1,2024, and was authorized to issue 500,000 common shares and 100,000 5\%, non-participating, convertible preferred shares. During the remainder of 2024 , the compamy entered into the following transactions: 1. Issued 32,000 common shares in exchange for $640,000. 2. Issued 5,000 preferred shares in exchange for $70,000, 3. Repurchased 3,000 common shares for $25,00 per share in the open market. The company entered into no other transactions that affected shareholders' equity during 2024. (a) Provide the journal entries for each of the transactions. (Credit occount titles are outomatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter Ofor the amounts, List all debit entries before credit entries.) Provide the journat entries for each of the transactions. (Credit account titles are automatically indented when the amount is entered, Do not indent monually. If no entry is required, select "No entry' for the occount titles and enter Ofor the omounts. List alf debit entries before credit entries) Ivanhoe Observation Inc. generated $758,000 in net income in 2024 and did not declare any dividends that year. Prepare the shareholders' equity section of the statement of financial position as at December 31,2024. Question 4 of 14 10/13.5 Ivanhoe Observation Inc. Statement of Financial Position (Partial) December 31,2024 Share Caoltal Stockholders' Eauity Preferred Shares $70000 Common Shares \begin{tabular}{r} \hline 640000 \\ \hline 710000 \\ \hline \end{tabular} Total Share Capital Retained Earnings \begin{tabular}{rr} \hline 7580000 \\ \hline 5 \\ \hline \end{tabular} Total Stockholders' Equity