Leslie Holdings Ltd. was incorporated on January 2, 2017, and on that date issued cash at $1 each. On April 30, Lee issued 1,000 preferred, $3 cumulative preferred shares, convertible to common shares at the rate of 6 common shares for one preferred share. The preferred shares were issued for $18 each. On October 15, 600 of the preferred shares were converted to common shares. On that date, the market value was $1.50 for the common shares and $17.50 for the preferred shares. On December 15, 1 common share was reacquired for $0.90 each. 1 50,000 common shares for 0,000 Instructions

 a) Journalize the share transactions described.

b) Calculate the number of issued shares and the average per-share amount of each class remaining at the of the year.