Carla Vista has a 35\% income tax rate. During the following fiscal year ended December 31,2024 , the company had the following transactions and events: Feb. 1 Repurchased 10,000 common shares for $40,000. July 12 Announced a 2 -for-1 preferred stock split. The market price of the preferred shares at the date of announcement was $150. Dec. 1 Declared the annual cash dividend (\$1.50 post-split) to the preferred shareholders of record on January 10,2025, payable on January 31, 2025. Dec. 18 Declared a 5% stock dividend to common shareholders of record at December 20, distributable on January 12 , 2025 The fair value of the common shares was $11 per share. Feb. 1 Repurchased 10,000 common shares for $40,000. July 12 Announced a 2 -for-1 preferred stock split. The market price of the preferred shares at the date of announcement was $150. Dec. 1 Declared the annual cash dividend (\$1.50 post-split) to the preferred shareholders of record on January 10, 2025. payable on January 31,2025. Dec 18 Declared a 5% stock divideit to common shareholders of record at December 20, distributable on January 12 . 2025. The fair value of the common shares was $11 per share. Dec. 31 Determined that for 2024, profit before income tax was $360,000 and other comprehensive income, net of income tax expense of $39.550, was $73,450. CARLA VISTA Statement of Changes in Sha Preferred Shares Common Shares Stock Dividend Distributable Balance, January 1 Reacquired common shares Cash dividends-preferred Stock dividends-common Comprehensive income Contributed Surplus- Reacquisition of Common Shares 5 Retained Earnings Accumulated Other Comprehensive Income (Loss) Total $ $ 5 $