Problem 4 Presented below is the Shareholders' Equity of Wilco Corporation beginning of the year: 15% Preference Share Capital, P 150 par Ordinary Share Capital, P 30 stated value Preference Share Premium Ordinary Share Premium Retained Earnings P 600,000 200,000 120,000 150,000 950,000 Share capital transactions occurred during the current year: Mar 03 600 preference shares were retired at P 165 per share. May 21 Ordinary share split for five-for-one June 14 2,000 ordinary shares were reacquired at P 8 per share. Aug 05 One thousand preference shares were converted into ordinary share with conversion ratio of 4 OS for every 1 PS. Nov 19 Reissued 1,200 treasury shares at 12 per share. Dec 28 P 450,000 profit for the year. Requirements: 1. Prepare the journal entries for the transactions occurred. 2. Prepare the Shareholders' Equity at year-end. 3. How many issued and outstanding shares at year-end? a. Ordinary Shares b. Preference Shares