Question 3 The stockholders' equity section of Banel Corporation's financial position as at December 31, 2018, appears below: Stockholders' equity Paid-in capital Ordinary shares, RM 10 par value, 400,000 shares authorized; 250,000 issued and outstanding Paid-in capital in excess of par Total paid-in capital Retained earnings Total stockholders' equity During 2019, the following stock transactions occurred: Jan. 18 Issued 50,000 shares of ordinary shares at RM 32 per share. Aug. 20 RM 2,500,000 1.200.000 3,700,000 600.000 RM 4,300,000 Purchased 25,000 shares of Barrel Corporation's ordinary shares at RM 26 per share to be held in the treasury. Nov. 5 Reissued 9,000 shares of treasury stock for RM 28 per share. Requirement (a) Prepare the journal entries (with narrations) to record the above share transactions. (b) Prepare the stockholders' equity section of the financial position for Barrel Corporation at December 31, 2019. Assume that net profit after tax and preference dividend for the year was RM 100,000 and that no dividends were declared. (c) Why are ordinary shares usually not issued at a price that is less than par value?