The Falcon Heavy Co. (FHC) had the following information available from its Trial Balance as at August 31, 2021: Preferred Shares 250,000 share authorized, 100,000 shares issued and outstanding Common Shares unlimited shares authorized, 225,000 shares issued and outstanding Contributed Surplus (Note 1) Retained Earnings Oct 15 Nov 2 Nov 7 Nov 8 $ 200,000 Note 1: This balance arose in 2020 when FHC repurchased and retired preferred shares. The following transactions occurred between September and December 31, 2021: Sep 1 Nov 30 450,000 10,000 300,000 Issued 100,000 common shares for $2.25 per share and 50,000 preferred shares for $3.00 per share Declared a 10% stock dividend on common shares. On this date, the prevailing market value was $5.00 per share Purchased and cancelled 5,000 common shares at $5.00 per share Purchased and cancelled 6,000 preferred shares at $6.00 per share Granted subscriptions on 7,000 common shares at a price of $3.00 per share. The contract calls for 50% payable now and the remaining 50% on February 1, 2022. Purchased 1,000 common shares at $1.50 per share. These shares will be held as treasury stock. Required: Journalize each of the above transactions. Round all per-share amounts to the nearest cent. (14 marks) Date Account Name(s) Dr ($) Cr ($) Required: How many common and preferred shares are issued and outstanding on Dec 31, 2021? (4 marks) Required: On February 1, 2022, 5% of the share subscribers are not able to uphold the contract and forfeit any amounts paid, in accordance with the subscription contract. What is the value of contributed surplus that will be recorded on this date? (2 mark)