Sampson Corporation was organized in 2017 to operate a financial consulting business. The charter authorized the issue of 16,000 common shares. During the first year, the following selected transactions were completed: a. Sold and issued 6,400 common shares for cash at $22 per share. b. Sold and issued 640 common shares for a piece of land to be used for a facilities site; construction began immediately. Assume that the market price per share was $22 on the date of issuance. Debit the land account. c. Sold and issued 1,260 common shares for cash at $23 per share. d. At year-end, the statement of earnings showed a loss of $9,500. Because a loss was incurred, no income tax expense was recorded. Required 1. Prepare the journal entry required for each of these transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 4 Record sale of common shares. Note: Enter debits before credits. Transaction General Journal Debit Credit a. 2. Prepare the shareholders' equity section as it should be reported on the statement of financial position at year-end, December 31, 2017. (Amounts to be deducted should be indicated with a minus sign.) SAMPSON CORPORATION Shareholders' Equity December 31, 2017 Share capital Shareholders' equity 3. Can Sampson pay dividends at year-end? O Yes O No