4. During 2020, Maldives Corporation started their company on January 1st and reported the following selected transactions: Jan 1 Issued 20,000 common shares at $15.00 per share. Apr 15 Issued 2,000...

4. During 2020, Maldives Corporation started their company on January 1st and reported the following selected transactions: Jan 1 Issued 20,000 common shares at $15.00 per share. Apr 15 Issued 2,000 common shares at $12.80 per share. May 30 Repurchased 1,000 common shares for a price of $13 Nov 30 Declared a 10% common stock dividend for the shareholders on record on Dec 15 and to be distributed on Dec 20. The market price of the common shares on this date was $12 per share.

(a) Prepare all journal entries required for the above transactions for Maldives Corporation. No explanations are required.

(b) What are the number of common shares outstanding at Dec 31, 2020?