> -/5 Question 8 of 12 View Policies Current Attempt in Progress Major Communications Ltd, a publicly traded company that specializes in data capture, has been in operation for several years. On October 1,2019, it had 10 million common shares authorized and 1,380,000 shares issued at an average value of $32 per share. As well, there were 1 million preferred shares authorized, with 210,000 of them issued at $16 per share. During the fiscal year ended September 30, 2020, the company generated net income after taxes of $23,300,000 and other comprehensive loss of $4.880.000. On October 1, 2019, the balance in Retained Earnings was $21.240,000 and the balance in Accumulated Other Comprehensive Income was 51.100,000. The preferred shares pay an annual dividend of $1.10. During the fiscal year 2020, the following transactions affected shareholders equity On November 1, 2019, 360.000 new common shares were issued at $34 per share. On March 15, 2020, a 5% common stock dividend on the outstanding shares was declared and distributed when the market price was 542 per share, 3. On September 1, 2020, a dividend of $4.65 per common share was declared. The date of record was September 15, 2020, with the date of payment being October 5, 2020, The preferred dividend for the year was declared and paid. 1 2 4. Question 8 of 12 > - /5 E Major Commy Statement of Changes Year Ended Sept Number of preferred shares Number of common shares Common shares Oct. 1. 2019 $ Common shares issued Stock dividend - common shares Common cash dividends Preferred cash dividend Net income Other comprehensive loss Sept. 30, 2020 s Assignment #4 Question 8 of 12 -15 E unications Ltd. in Shareholders' Equity tember 30, 2020 Preferred shares Retained earnings Accumulated other comprehensive income Total $