Ruby Red Rental Corporation had the following balances in its shareholders’ equity accounts at January 1, 2024: 

Accumulated other comprehensive income (loss) ................................................  $ (25,000) 

Contributed surplus—reacquisition of common shares ........................................  540,000 

Retained earnings ........................................................................................................1,500,000 

Common shares (32,000 shares) ................................................................................  800,000

Ruby Red had the following transactions and events during 2024: 

Feb. 2 Repurchased 1,000 shares for $44,500. 

Apr. 17 Declared and paid cash dividends of $70,000. 

Oct. 29 Issued 2,000 shares for $104,000 cash. 

Dec. 31 Reported comprehensive income for the year of $425,000, which included other comprehensive income of $40,000. 

Instructions 

a. Prepare journal entries to record the transactions that took place during 2024. 

b. Prepare a statement of changes in shareholders’ equity at December 31, 2024. 

c. Calculate the total number of shares issued as at December 31, 2024.