Riviere-Rouge Corp. is authorized to issue 8,000,000 no par value common shares. In its' year end financial statements on December 31, 2013 the company reported 500,000 common shares issued and outstanding, common share capital of S5,942,000, contributed surplus-common share repurchases of S10,000 and contributed surplus-expired warrants on common shares of S30,000. Required: Prepare the journal entries required to record the following equity related transactions as listed below during 2014: a] Jan. 1: 40,000 common shares were sold for cash at $11 per share with issue costs amounting to S10,000. Mar. l:65,000 common shares were repurchased for S12.50 each in the market Apr. 1: Subscribers apply for and are allocated to purchase 300,000 common shares at S15 June 1 : The company calls for 60% of the outstanding subscriptions still due. All subscribers b] c] per share with a 50% down payment. All subscriptions are accepted. d] pay the required amounts. e] Aug. 1: The remaining subscriptions due are called in. Subscribers for 2,000 shares default and they forteit all of their deposits as per the terms of the issue. t] Sept. l:The company issues the shares to the eligible subscribers g] Sept. 1: The company received S10,000 to write 2,000 call options on 2,000 shares of Toronto Wonderland Inc. giving the holder the right to buy Toronto Wonderland shares for S60 each until December 31, and are settleable by the holder before that