The articles of incorporation from the province of Ontario authorize Value Canoes Inc. to isue 14 000 shares of $7 preferred shares and 140,000 common shares. In its first month, Value completed the following transactions (Click the icon to view the transactions.) Transactions 1. Record the transactions in the journal. 2. Prepara the shareholders' equity section of the Value balance sheet at October 31, 2017. The ending balance of Retained Eamings is $45,000. 2017 Oct 6 ssued 600 common shares to the lawyer for assistance with chartering the corporation. The Requirement 1. Record the transactions in the journal. (Record debits first, then credits. Explanations are not required.) Oct 6. Issued 600 common shares to the lawyer for assistance with chartering the corporation. The layer's fee was $6,600. Debit Organzation Expense lawyers fee was $6,600. Debit Organization Expense. 9 Issued 7,000 common shares to Jerry Spence and 11,000 shares to Sheila Markle in relurn for cash equal to the shares, market price of $11 per share. Spence and Marde are executives of the company Journal En Date Accounts Debit Credit 10 Issued 350 prefemed shares to acquire a patent with a fair value of $80,000 26 Issued 1,600 common shares for cash of $20,800 Oct Print Done Oct 9 Issued 7,000 common shares to Jerry Spence and 11,000 shares to Sheila Markle in return for cash equal to the share market price of $11 per share. Spence and Markle are execulives of the company Journal Entry Date Accounts Debit Credit Oct Oct 10. Issued 350 preferred shares to acquire a patent with a fair value of S80,000 Journal Entry Date Accounts Debit Credit Oct 10 Oct 26. Issued 1,600 common shares for cash of $20,800. Journal Entry Date Accounts Debit Credit Oct 26 Requirement 2. Prepare the shareholders equity section of the Value balance sheet at October 31, 2017. The ending balance of Retained Eamings is $45,000. (Enter the accounts in the proper order for the shareholders equity section of the balance sheet. List preferred shares first.) Value Canons Inc. Balance Sheet (partial) October 31, 2017 Shareholders' Equity Total shareholders' equity Choose from any list or enter any number in the input fields and then continue ta the next