At the start of the year, Birchwood Corporation reported the following opening balances in Shareholder's Equity: Contributed Capital Preferred shares $4.50, 500,000 authorized, 2,000 issued and $70,000 outstanding Common shares, 1,000,000 authorized, 80,000 issued and 200,000 outstanding Contributed Surplus-share repurchase 5,000 Total Contributed Capital $275,000 Retained Earnings 405,000 Total Shareholder's Equity $680,000 April 4 The following share transactions took place for the year ended Oct 31, 2021. Jan 15 Declared a 6% common stock dividend Market value was $7.50 per common share. Feb 8 Issued the common stock dividend. The Company sold 3,000 of its common shares for $10.00 per share. Underwriter's commissions of $725 was expensed Sept 30 The Company repurchased 1.200 of its common shares for $13 per share from a shareholder who was having financial difficulties. Use average share price of $7.00 Oct 4 Split the common shares 2 for 1. Oct 31 Income Summary shows a balance of $ 187,500 Cr and requires closing. At the start of the year, Birchwood Corporation reported the following opening balances in Shareholder's Equity: Contributed Capital Preferred shares $4.50, 500,000 authorized, 2,000 issued and $70,000 outstanding Common shares, 1,000,000 authorized, 80,000 issued and 200,000 outstanding Contributed Surplus-share repurchase 5,000 Total Contributed Capital $275,000 Retained Earnings 405,000 Total Shareholder's Equity $680,000 April 4 The following share transactions took place for the year ended Oct 31, 2021. Jan 15 Declared a 6% common stock dividend Market value was $7.50 per common share. Feb 8 Issued the common stock dividend. The Company sold 3,000 of its common shares for $10.00 per share. Underwriter's commissions of $725 was expensed Sept 30 The Company repurchased 1.200 of its common shares for $13 per share from a shareholder who was having financial difficulties. Use average share price of $7.00 Oct 4 Split the common shares 2 for 1. Oct 31 Income Summary shows a balance of $ 187,500 Cr and requires closing