2 02:31:12 eBook The equity section from the December 31, 2023 and 2024, balance sheets of Westburne Corporation appeared as follows: Contributed capital: Common shares, 50,000 shares authorized; 27,000 and 25,900 shares issued and outstanding, respectively Retained earnings Required: 1. How many shares were outstanding on each of the cash dividend dates? Outstanding shares The following transactions occurred during 2024 (assume the retirements were the first ever recorded by Westburne): Jan. 5 A $1.50 per share cash dividend was declared, and the date of record was five days later. Mar. 20 3,400 common shares were repurchased and retired at $20.00 per share. Apr. 5 A $1.50 per share cash dividend was declared, and the date of record was five days later. July 5 A $1.50 per share cash dividend was declared, and the date of record was five days later. July 31 A 20% share dividend was declared when the market value was $32.00 per share. Aug. 14 The share dividend was issued. Oct. 5 A $1.50 per share cash dividend was declared, and the date of record was five days later. Jan. 5 Profit Apr. 5 July 5 Oct. 5 2. How much profit did the company earn during 2024? 2024 2023 $594,000 $518,000 579,000 467,000

The equity section from the December 31, 2023 and 2024, balance sheets of Westburne Corporation appeared as follows: The following transactions occurred during 2024 (assume the retirements were the first ever recorded by Westbuine). Jan. 5.451 .50 per shure cach dividend was declared, and the date of record was five deys later. Mar. 20 3,400 senaon shares were repurshased and retired at 320 . 00 per share. ApC, S A \$1.50 per share cash dividend was declared, and the date of record wes five days later. July is a s1.s0 per share cash dividend was der lared, and the date of recerd was five days later: July 31 A 20x share dividend was declared then the earket value was 832.00 per ahare. Aug. 14 the share dividend was isived. Oct. S A $1.50 per share cah dividend was declered, and the dote of record uas five days-1ater. Required: 1. How mary shares were outstanding on each of the cash dividend dates? 2. How much pront did the compary carn during 2024