Bridgeport Limited reported a profit of $478,760 for its November 30, 2021, year-end. Cash dividends of $74,400 on the common shares and $60,600 on the noncumulative preferred shares were declared and paid during the year. The following information is available regarding Bridgeport's common shares: Dec. 1, 2020 The opening number of common shares was 57,100. Feb. 28, 2021 Sold 10,000 common shares for $180,000 cash. May 31, 2021 Reacquired 5,000 common shares for $80,000 cash. Nov. 1, 2021, Issued 15,000 common shares in exchange for land with a fair value of $300,000.

Calculate the profit available to common shareholders.

Profit available to common shareholders

and provide journal entries