A company reported $576,000 of profit for 2020. It also declared $78,000 of dividends on preferred shares for the same year. At the beginning of 2020, the company had 50,000 outstanding common shares. These three events changed the number of outstanding shares during the year. June 1 Sold 30,000 common shares for cash. Aug. 31 Purchased and retired 13,000 common shares. Oct. 1 Completed a three-for-one share split.