The shareholders' equity section of Abu Dhabi Commercial Co. includes the items shown below on January 1, 2020 Preferred stock, AED 7 par value, 90,000 shares issued Common stock, AED 4 par value, 500,000 shares issued Paid in Capital in excess of par- preferred stock- Paid in Capital in excess of par- common stock- Retained Earnings Treasury shares (13,000 shares, AED 5 cost per one share) During 2020, the following transactions occurred: AED 630,000 2,000,000 400,000 1,500,000 340,000 (65,000) 1-On March 3, the company retired 26,000 common shares at 9 AED per share. 2-On May 11, the company sold 5,000 shares of the treasury at AED 7 per share. 3-On July 22, the company reissued 14,000 common shares at AED 6 per share. Instructions: 1-Record the journal entries for the above transactions. (10 marks) 2- Calculate the balance of the followings on 31/12/2020 assuming that the net income was AED 230,000 for the year 2020: (show all calculations) A Total paid in capital - (2 marks) B- Retained earnings (2 marks) C- Treasury shares (1 mark)