Question 2 (20 marts) Heuristic Solutions is authorized to issue an unlimited number of common shares and 50,000 preferred shares. During its first year (2019), the business completed the following share issuance transactions: July 19: Issued 50,000 common shares for cash of $5 per share. Oct 3: Issued 500, $1.50 preferred shares for $50,000 cash. Oct 11: Received inventory valued at $20,000 and equipment with fair value of $10,000 for 5000 common shares. Requirements 2. Journalize the transactions b. Prepare the shareholders equity section of Heuristic Solution's balance sheet. The ending balance of Retained Earnings is a deficit of 595,000. Heuristic Solutions General Journal cui Anasumotions for General Journal Heuristic Solutions