Question 6 (7 points) Mannesh Inc. ended 2019 with 9 million number of common shares issued and outstanding. The average isste price of these shares was $1.33 Beginning retained earnings totalled 535 million In March 2020. Mannesh Ine, issued 6 million common shares at a price of S7 per share In May 2020, the company declared and distributed 4 percent stock dividend at a time when Mannesla's common shares had a fair value of $8 per share. Then in October 2020. Mannesh's stock price dropped to s5 per share and the company executed a 1-for-2 stock split For the year. Mannesh Inc earned net income of $22 million and declared and paid cash dividends of S13 million Required: 1 Complete the following tabulation to show what Mannesh the should report for shareholders' equity at December 31. 2020 Common Retained Total (Amounts in millions) Shares Earnings Balance, Dec 31, 2019 Issuance of shares Stock dividends Net income Cash dividends Balance, Dec 31, 2020 2. Joumalize the transactions noted above (Journal entry explanations are not required)