Question \#4 ( 4 marks) Sun Corporation, a public company, reported the following selected transactions during 2021 (its first year of operation). Jan. 1 Issued 20,000 common shares at $15 per share. Jun. 15 Issued 2,000 common shares with a market price of $14 per share in exchange for equipment that had a fair market value $27,000. Sept.30 The Board of Directors declared a 10% common stock dividend. The market price of the common shares on this date was $12 per share. Oct. 10 The 10% common stock dividend was distributed. Nov. 30 The Board of Directors declared a cash dividend of $0.22 per share to shareholders of record on December 15. Dec. 20 The cash dividend declared on November 30 was paid to shareholders. Instructions: Prepare the necessary journal entries to record the above transactions