QUESTION 3 (10 Marks) The information below focuses on the organization and operations for the first year of Seroja Corporation, which was organized by 10 local entrepreneurs on January 1, 2020, for the purpose of operating business to sell various supplies to hotels. The charter authorized the following capital stock: Common stock, no-par value, 20.000 shares Preferred stock, 5 percent, RM100.00 par value, 5.000 shares The laws of the state specify that the legal capital for no-par stock is the full sale amount The following summarized transactions, selected from 2020, were completed on the dates indicated: (a) January 15. Sold a total of 8.000 shares of common stock to the 10 entrepreneurs for cash at RM50.00 per share. Credit the Common Stock account for the total issue amount. (b) February 21. Sold 2,000 shares of preferred stock at RM102.00 per share, cash collected in full. (c) March 4. Purchased land for a store site and made full payment by issuing 100 shares of preferred stock. Early construction of the store is planned. Debit Land (store site). The preferred stock is selling at RM102.00 per share, (d) July 10. Purchased 100 shares of preferred stock that had been sold and issued earlier. Seroja Corporation paid the stockholder RM104.00 per share (e) August 30. Sold 20 shares of the preferred treasury stock at RM105.00 per share. REQUIRED: Give the appropriate journal entries with a brief explanation for each transaction. 16 Marks/ b. Prepare the Stockholders' Equity section of the Statement of Financial Position for Seroja Corporation at December 31, 2020. Assume earnings is RM31,000.00 14 Marks/