QUESTION 1 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 shares were reacquired for $0.90 each. 15 MARKS 50,000 common shares for 0,000 Instructions a) Journalize the share transactions described. (11marks) b) Calculate the number of issued shares and average per share amount of each class remaining at the of the year. (4marks) end