Question 2 Equity (20 marks) Agri Alberta Resources Inc. began operations on Jan 1, 2018. The following equity transactions occurred during the first quarter (Jan 1 - Mar 31) of operations: 2018 Jan 1 Issued 2,500 common shares in exchange for company expenses, valued 74,500 Jan 5 Issued 35,000 common shares for $30 each, received cash Jan 9 Issued 4,500 preferred shares in exchange of a building with a fair market value of $225,000 Feb 1 Issued 2,000 common shares to a creditor who was owed $50,000 Feb 8 Issued 1,000 preferred shares for $60 each, received cash On March 31, 2018; the Income Summary account had a credit balance of $45,000. REQUIRED: 1. What is the total contributed capital as per the equity section of the balance sheet as at Mar 31, 2018? 2. What is the total equity of the company as at Mar 31, 2018