Stake Technology Inc. was authorized to issue an unlimited number of common shares. During August 2014, their first month of operations, the following selected transactions occurred: a. August 4: Issued 12,000 common shares at $4.60 per share for cash. b. August 7:6,000 common shares were issued in exchange for land valued at $12,000. c. August 20: Gave the corporation's promoters 7,000 common shares for their services in organizing the corporation. The directors valued the services at $37,800. d. August 30: 12,000 of the common shares were issued for a total of $55,200 cash. e. August 31: Closed the Income Summary account. An income of $75,000 was earned. a) Prepare journal entries for the above transactions, entering the transaction letter as the explanation, and the dates in the format dd/mmm, (ie. 15/Jan). General Journal Page GJ5 Date Account/Explanation F Debit Credit - + 1 + nam tho quity section of the balance sheet of Stake Technology Inc. at August 31, 2014