Question 4 (20 Marks) Mark Inc. has authorized share capital of an unlimited number of common shares and 1,000,000 preferred, $3 preferred shares. At January 1, 2019, the balance in its shareholders equity includes $45,000 in common shares representing 15,000 shares and $30,000 in preferred shares representing 1,000 shares and retained earnings of $180,000. Profit for the year ending December 31, 2019 was $24,000. No dividends were declared during 2019. During 2019, Mark Inc. had the following share transactions: Mar 1 Issued 4,000 common shares for $5 each. Jun 30 Issued 500 preferred shares for $11 each. Sep 1 Issued 60,000 common shares in exchange for land valued at $285,000. Required: a) Journalize the share transactions. (8 marks) b) Prepare the equity section of Mark Inc. balance sheet at December 31, 2017 and describe any additional d closure required related to share capital. (12 marks)