Web nment #2 (CH 11-13) Sawod Hel o The equity section of the December 31, 2019, balance sheet for Delicious Alternative Desserts Inc. showed the following: Delicious Alternative Desserts Inc. Equity Section of the Balance Sheet December 31, 2019 Contributed capital: Preferred shares, $0.40 cumulative; 80,000 shares authorized; 68,000 shares issued and outstanding $ 272,000 Common shares; 250,000 shares authorized; 128,000 shares issued and outstanding 204,800 Total contributed capital $476,800 Retained earnings 148,000 Total equity $624,800 Book rences During the year 2020, the company had the following transactions affecting equity accounts: Mar Jan. 3 Sold 28,208 common shares for a total of $48,160 cash. 1 Sold 5,000 preferred shares at $5.60 each; cash. June 15 Exchanged 7,000 common shares for equipment with a fair market value of $30,000. The last common share trade was dated March 15 at $4.96. Dec. 31 Closed the Income Summary account, which showed a credit balance of $288,000. The board of directors had not declared dividends for the past two years (2019 and 2020). Required: 1. Joumalize the above transactions Address w DO Journal entry worksheet 10 of 16