Carla Vista Realty Ltd. is a land developer with a calendar year end. When Carla Vista needs capital to buy land, it often issues common shares, and once cash is obtained on large land sales, shares are often repurchased. Profit for the year ended December 31, 2024, was $908,880. Carla Vista's board of directors declared and paid the annual dividend to its preferred shareholders. Carla Vista reported the following information related to its shareholders' equity on January 1, 2024. $2 cumulative preferred shares, unlimited number of shares authorized, 181,776 shares issued Common shares, unlimited number of shares authorized, 550,000 shares issued $4,400,000 3,322,000 Contributed surplus-reacquisition of common shares Retained earnings Common shares issuances and reacquisitions were as follows for 2024. Feb. 1 Issued 22,800 shares May 31 Reacquired 18,000 shares July 31 Issued 37,200 shares Nov. 1 Issued 9,600 shares Dec. 1 Reacquired 27,600 shares 21,000 5,254,000