S The equity section of the December 31, 2022, balance sheet for Delicious Alternative Desserts Inc. sho Contributed capital: Delicious Alternative Desserts Inc. Equity Section of the Balance Sheet December 31, 2022 Preferred shares, $0.40 cumulative; 80,000 shares authorized; 62,000 shares issued and outstanding Common shares; 250,000 shares authorized; 122,000 shares issued and outstanding Total contributed capital Retained earnings Total equity $248,000 195,200 $443,200 148,000 $591,200 During the year 2023, the company had the following transactions affecting equity accounts: Jan. 3 Sold 22,000 common shares for a total of $37,840 cash. Mar. 1 Sold 5,000 preferred shares at $5.00 each; cash. June 15 Exchanged 7,000 common shares for equipment with a fair market value of $27,000. The last common share trade was dated March 15 at $4.90. Dec. 31 Closed the Income Summary account, which showed a credit balance of $282,000. The board of directors had not declared dividends for the past two years (2022 and 2023). Required: 1. Journalize the above transactions. View transaction list Journal entry worksheet < 1 2 3 4 Record the Issues of common shares for cash. Note: Enter debits before credits. Date General Journal Debit Credit >