6 The equity section from the December 31, 2020 balance sheet of Kentucky Corporation appeared as follows: 202: 2020 Contributed capital: Common shares, 54,100 shares authorized; 23, 040 and 21, 300 shares issued and outstanding, respectively. Retained earnings $ 498, 100 $ 602,790 521, 900 476, 900 References The following transactions occurred during 2021 (assume the retirements were the first ever recorded by Kentucky): Jan. 5 A $1.40 per shers cash dividend was declared, and the date of record vas five days later. Mar. 202, 100 common shares were repurchased and retired at $28.30 per share. Apr. 5 A $0.70 per share cash dividend was declared, and the date of record vas five days later. July 5 A $1.90 per share cash dividend was declared, and the date of record was five days later. July 31 A 20.00% share dividend was declared then the market value was $35.00 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. Required: 1. How many shares were outstanding on each of the cash dividend dates? Jan. 5 Apr. 5 19,200 July 5 19,200 Oct. 5 23.040 Outstanding shares 21,300 2. How much profit did the company earn during 20212 Profit 3. Prepare the statement of changes in equity for the year ended December 31, 2021. (Deductible values should be Indicated by a minus sign.) KENTUCKY CORPORATION Statement of Changes in Equity For Year Ended December 31, 2021 Common Retained Shares Earnings $ 248.800 Total Equity Balance, January 1 $ 248.600 $ 0 $ 0 $ 0 $ 0 Balance, December 31 $ 248,600 $ 248.600