The following transactions occurred during 2022, the first year of operations, for Piano Pizza Co.: 1. Issued 10,000 common shares and 2,000,$3, non-cumulative preferred shares for total proceeds of $135,000. Each common share has a market value of $6 and each preferred share has a market value of $50. 2. Issued 4,000 common shares for $6.25 each. 3. Issued 1,000 preferred shares for land having a market value of $60,000. The original cost of the land was $50,000. 4. The company declared the following cash dividends: a. the annual dividend on the preferred shares. b. a 25-cent per share dividend on the common shares. 5. 1,500 common shares were repurchased for $4 per share. 6. The dividends declared in item 4 were paid. 7. The common stock was split 4 for 1. 8. The net income for the year ending December 31,2022 was $300,000. Required: Prepare journal entries for the above