Red Corporation is authorized to issue 110,000 common shares and 90,000, 53 preferred shares. At Jan 1, 2019, the company's shareholders equity induded the below. 26,000 common shares valued at $234.000 9.000 preferred shares valued at $100,000 Retained earning was $52,000 During 2019 the net profit earned by Red Corp. was $27.000, The company did not issue any dividend during 2019. Aso during 2019 the company ssued the below On Apr 4, 2019 - 10,000 common shares for $11 each On Jun 10, 2019 - 3,000 preferred shares for $15 each and On Aug 7, 2019 12.000 common shares for land valued at $132.000 1. Prepare the journal entries to record the above share issues. (4 marks) 2. Prepare the shareholders equity part of the balance sheet in Dec 31, 2019. (10 marks) SWICH THEME Khushpreet Kaur Mann Puthp Pink Corporation issued $1.5 million semi-annual bond in Jan 1, 2019 that matures five years later. The bond has 8% coupon rate and the market rate at the time of issuance was 6M Record the journal entry at the issuance of the bond