7.68 / 10 Crown Point 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 Mar. 1 May 1 June 1 July 24 Issued 1,020,000 common shares for $2 per share. Issued 18,000 preferred shares for $50 per share. Issued 255,000 common shares for $3 per share. 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 33,200 common shares for $116,000 cash and used equipment. The equipment would have cost $30.000 it Remmers had purchased it new and a recent appraisal determined that the equipment had a fair value of $16000 The common shares were trading for $4 per share on this date. Issued 10,000 common shares for $5 per share. Issued 4,400 preferred shares for $50 per share. Repurchased and retired 17,000 common shares at $4 per share. Determine the average cost of each repurchased share to the nearest cent before recording this transaction. Declared a $72,000 cash dividend to the preferred shareholders, to shareholders of record on December 31 payable on January 10. W 4 Sept. Nov. 20 Dec. 14 7.68 / 10 Crown Point 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 Mar. 1 May 1 June 1 July 24 Issued 1,020,000 common shares for $2 per share. Issued 18,000 preferred shares for $50 per share. Issued 255,000 common shares for $3 per share. 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 33,200 common shares for $116,000 cash and used equipment. The equipment would have cost $30.000 it Remmers had purchased it new and a recent appraisal determined that the equipment had a fair value of $16000 The common shares were trading for $4 per share on this date. Issued 10,000 common shares for $5 per share. Issued 4,400 preferred shares for $50 per share. Repurchased and retired 17,000 common shares at $4 per share. Determine the average cost of each repurchased share to the nearest cent before recording this transaction. Declared a $72,000 cash dividend to the preferred shareholders, to shareholders of record on December 31 payable on January 10. W 4 Sept. Nov. 20 Dec. 14