Question Two (21.5 marks) Kidscare Ltd is listed on the Australian Securities Exchange. The directors of Kidscare Ltd announced a public offer of shares effective 1 February 2022. The price of each share is $1.50 as partly paid, $1.00 on application and the balance on the allotment. On 1 February 2022, investors wanting to acquire shares of Kidscare Ltd pay application money for 1 000 000 shares to the designated bank account. On 14 February 2022, the company allots one million shares. On the same day, the call for the balance of the share price of $0.50 is made by the company. The call payment is due in one month. Then on 15 March 2022, the holders of 800 000 shares have made the payment that is due on the call. On the same day, the directors of Kidscare Ltd decide to forfeit the remaining 200 000 shares where the application money was paid but the applicants failed to pay the call. On 20 March 2022, the forfeited shares are reissued as fully paid and sold in an auction. Kidscare Ltd receives $1.20 per share. The costs of conducting the sale were $5 000. On 25 March 2022, the balance of forfeited shares account paid to the applicants paid the application but failed to pay the call. REQUIRED a. Prepare all journal entries necessary to account for the issue of the shares. In your answer narratives for journal entries are not necessary but you must include the date of the journal entry as included in the question. (19 marks) b. Explain what is the mining of 'share splits' and Explain why an organisation performs a share split? (2.5 marks)