The equity section of the December $31,2022,$ balance sheet for Delicious Alternative Desserts Inc. showed the following:Delicious Alternative Desserts Inc.$*$Equity Section of the Balance SheetDecember $31,2022$Contributed capital:Preferred shares, $$0\mathrm{.}40$ cumulative; $80,000$ shares authorized;$55,000$ sharesissued and outstandingCommon shares; $250,000$ shares authorized; $115,000$ shares issuedand outstandingTotal contributed capitalRetained earningsTotal equity$$220,000184,000$$$404,000148,000$$$552,000$During the year $2023,$ the company had the following transations affecting equity accounts:Jan. $3$ Sold $15,000$ common shares for a total of $$25,800$ cash.Mar$\mathrm{.}1$Sold $5,000$ preferred shares at $$4\mathrm{.}30$ each; cash.June $15$ Exchanged $7,000$ common shares for equipment with a fair market valueThe last common share trade was dated March $15$ at $$4\mathrm{.}83.$Dec. $31$ Closed the Income Summary account, which showed a credit balance ofThe board of directors had not declared dividends for the past two years $(2022$ and $2023).|$Required:

Journalize the above transactions.

Journal entry worksheet

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Record the Issues of common shares for cash.

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$January $03,2023,,,],[,,,],[,,,],[,,,],[,,,],[,,,]]$

Prepare the equity section as at December $31,2023.($Enter all amounts as positive values.$)$

How many preferred shares are available for issue at December $31,2023?$

Preferred shares