The following shareholders' equity accounts are reported by Pharoah Inc. on January 1:

Common shares (unlimited authorized, 159,000 issued) $2,544,000

Preferred shares ($4 cumulative, convertible, 100,000 authorized, 5,600 issued) $420,000

Contributed surplus-reacquisition of common shares $31,200

Retained earnings $1,266,000

The following selected transactions occurred during the year:

Feb. 11 Issued 53,000 common shares at $20 per share.

Mar. 2 Reacquired 20,100 common shares at $22 per share.

June. 14 Split the common shares 2 for 1 when the common shares were trading at $30 per share

July. 25 Reacquired 440 preferred shares at $70 per share

Sept. 16 Reacquired 53,000 common shares for $17 per share.

Oct. 27 Declared a 5% common stock dividend distributable on December 13 to shareholders of record on November 24. The fair value of the common shares on October 27 was $19 per share.

Dec. 13 Distributed the stock dividend declared on October 27. The fair value of the common shares on December 13 was $21 per share.

Please write journal entries for each transaction and show work so I can understand better. I will leave a good rating! :)