The equity section of Benton Corporation's statement of financial position as of December 31, 2018 is as follows: Equity Share capital-ordinary 5 par value; authorized, 2,000,000 shares; issued, 400,000 shares $2,000,000 Share premium-ordinary 850,000 Retained earnings 3.000.000 $5,850,000 The following events occurred during 2019 1. Jan. 5 15,000 shares of authorized and unissued ordinary shares were sold for $11 per share 2. Jan. 16 Declared a cash dividend of $0.10 per share, payable February 15 to share-holders of record on February 5. (Prepare ALL entries related to this transaction) 20,000 shares of authorized and unissued ordinary shares were sold for $12 per share. 3. Feb. 10 5. April 1 A two-for-one split was carried out. Fair value on March 31 was $18 per share, 6. July 1 A 15% share dividend was declared and issued, Fair value is currently $10 per share. 7. Dec. 31 Net Income was $400,000 for the year REQUIREMENTS: (a) Prepare the journal entries for the above transactions (b) Prepare the Equity section as of December 31, 2019