Problem 5 (10 points) As of January 1, 2021, the equity section of LD Food Co.'s balance sheet contained the following Common stock, 10 million authorized, 2 million issued and outstanding $3.000.000 Contributed surplus-from repurchase and cancellation of common shares 275.000 Retained earnings 2.750.000 Total shareholders' equity 56,025,000 On May 1, 2021, the company spent $802,500 to repurchase 300,000 common shares. These shares were cancelled immediately. On November 1, 2021, the company issued a 5% stock dividend on common shares. LD Food's stock tradeda S7/share after the dividend. . Required: Record the journal entries for the above transactions occurring in 2021