The following shareholders' equity accounts are reported by Sunland Inc. on January 1: Common shares (unlimited authorized, 145,500 issued) $2,182,500 Preferred shares ($4 cumulative, convertible, 100,000 authorized, 4,700 issued) 352,500 Contributed surplus-reacquisition of common shares 29,400 Retained earnings 1,257,000 The following selected transactions occurred during the year: Feb. 11 Issued 48,500 common shares at $19 per share. Mar. 2 Reacquired 19,200 common shares at $21 per share. June 14 14 Split the common shares 2 for 1 when the common shares were trading at $29 per share. July 25 Reacquired 350 preferred shares at $70 per share. Sept. Oct. 12 16 Reacquired 48,500 common shares for $16 per share. 27 Dec. 13 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 $18 per share. Distributed the stock dividend declared on October 27. The fair value of the common shares on December 13 was $20 per share. Prepare journal entries for the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem. Round average per share to 2 decimal places, e.g. 15.25 and final answers to O decimal places, e.g. 5,276. List all debit entries before credit entries.) Date Account Titles Feb. 11 Cash Common Shares Mar. 2 Common Shares Debit 921500 307200 Contributed Surplus - Reacquisition of Common Shares 29,400 Retained Earnings Cash June 14 No Entry July 25 No Entry Preferred Shares 66,600 0 26,250 Credit 921500 403200 0 June 14 No Entry No Entry July 25 Preferred Shares Sept. 16 Oct. 27 Contributed Surplus - Reacquisition of Preferred Shares Cash Common Shares Retained Earnings Cash Stock Dividends Distributable Dec. 13 Stock Dividends Distributable Common Shares 0 26,250 388000 388000 286045 286045 1750 24,500 776000 286045 286045