The following shareholders'equity accounts are reportedly Sunland Inc. on January 1 $2.592.000 435.000 Common shares (unlimited authorized, 162.000 Preferred shares (54 cumulative.convertible. 100.000 authorised. 5.800 sec Contributed surplus-recouition of common shares Retained earnings 31.600 120.000 The following selected transactions occurred during the year. Feb 11 Issued 54.000 common stures at S20 per share Mar 2 Reacquired 20,30 common shares at $22 per share June 14 Split the common shares 2 for 1 when the common shares were trading at 5.30 pershare July 25 Reacquired 460 peterred shares at 570 per share Sept 16 Reacquired 54 000 common shares for $17 per share 27 Declared a 5x 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. Distributed the stock dividend declared on October 27 The air of the common share on December 13 was Dec 521 per share Oct 13 Prepare journal entries for the transactions. (Creditoccountitles are automatically indented when the amount is entered Dorot Indent manually. If no entry required, select "No Entry for the accountitles and enter for the amounts Recon journal entries in the order presented in the problem. Hound overope per shore to 2 decimal places 15.25 and find answers to decimooc 5.276) Date Account Titles and Explanation Debit Credit 1 und common shares for cash Mar 2 To record requisitions of common shares To record reacquisition of preferred shares) Sept. 16 1 To record reacquisition of common shares. To record declaration of stock dividend) To record distribution of stock dividend Show how each claw of shares will be presented in the shareholders equity section of the balance sheet at December 31 Sunland Inc. Partlal Balance Sheet Shareholders' equity List of Accounts