- Ch 12 i &external_browser=0&launchUrl=https%253A% Saved Mainland Resources Inc. began operations on June 5, 2023. 2023 June 5 Gave 4,000 common shares to the organizers of the corporation in exchange for services valued at $84,800. 15 Received $22 cash per share for the issuance of 78,000 common shares. 16 Issued 10,000 preferred shares for cash of $42 per share. 17 8,000 common shares were issued to a creditor who was owed $133,000. 18 The board of directors declared a cash dividend of $19,800 on the preferred sh common shares to shareholders of record on June 20, payable July 1. 30 153,000 common shares were issued in exchange for machinery with a fair market shares were actively trading on this date at $16.00 per share. July 1 The dividends declared on June 18 were paid. Required: Journalize the above equity transactions that occurred during the first month of operations. declaring dividends. View transaction list