5.55/8 View Policies Show Attempt History Current Attempt in Progress Marx Corporation, a publicly traded company was organized on January 1, 2021. It is authorized to issue an unlimited number of $3 noncumulative preferred shares and an unlimited number of common shares. The following share transactions were completed during the company's first year of operations Jan. 10 Mar. 1 Issued 940,000 common shares for $2 per share. Issued 22.000 preferred shares for $50 per share. Issued 235,000 common shares for $3 per share. May 1 June 1 July 24 Sept 4 Repurchased and retired 9,000 common shares at $2 per share. Determine the average cost of each repurchased Share to the nearest cent before recording this transaction. Issued 33,600 common shares for $130,000 cash and used equipment. The equipment would have cost $30.000 Remmers had purchased it new and a recent appraisal determined that the equipment had a fair value of $16,000 The common shares were trading for $4 per share on this date. Issued 10.000 common shares for $5 per share. Issued 3.700 preferred shares for $50 per share Repurchased and retired 16,000 common shares at $4 per share. Determine the average cost of each repurchased share to the nearest cent before recording this transaction Declared a $68.000 cash dividend to the preferred shareholders, to shareholders of record on December 31, payable on January 10. Nov. 1 20 Dec 14 31 Reported net income of $1.21 million for the year. -/4 III Question 3 of 4