Westby Corp., a high school uniform manufacturer, was authorized to issue an unlimited number of common shares. During January 2020, its first month of operations, the following selected transactions occurred: Jan. 1 1,000 shares were issued to the organizers of the corporation. The total value of the shares was determined to be $12,700. 5 15,000 shares were sold to various shareholders for $14.20 each. 15 The board of directors declared a cash dividend of $0.82 per common share to shareholders of record on January 19, payable January 31. 20 4,000 shares were issued in exchange for land valued at $50,800. The shares were actively trading on this date at $12.20 per share. 31 Closed the Income Summary account, which showed a credit balance of $172,000. 31 Paid the dividends declared on January 15. Required: a. Journalize the above transactions. The Company does not use a Cash Dividends Account View transaction list 1 > Record the issuance of shares. 2 Record the issuance of shares. 3 declar 4 Record the issuance of shares. 5 Record to close the income summary account. Credit 6 Record the paid dividends. Note : = journal entry has been entered Record entry Clear entry View general journal b. Prepare the equity section of Westby's balance sheet at January 31, 2020. WESTBY CORP. Equity Section of the Balance Sheet January 31, 2020 Total equity c. What was the average issue price per common share? (Round your answer to 2 decimal places.) Average issue price per share