Question (20 marks) Mer Solutions is authorized to issue an unlimited number of common shares preferred shares. During its first year (2019), the business completed the following issuance transactions: July 19: Issued 50,000 common shares for cash of $5 per share Oct 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 common shares Requirements a Pournalize the transactions b. Prepare the shareholders' equity section of Heuristic Solution's baland ending balance of Retained Earnings is a deficit of $95,000 Heuristic Solutions General Journal Particulars Debit Date Credit