Coronado Ltd had the following shareholders' equity on December 31, 2024: The following transactions occurred, in the order given, during 2025: (a) 400 subscriptions were sold for common shares. Each subscription entitled the purchaser to purchase 20 shares in the company at a price of $6 per share. According to the subscription contracts, a payment of $27 per subscription was required at the time the subscriptions were sold. (b) As per the subscription contracts, the second payment was for the balance of the subscription price. All but 50 of the subscribers made this payment. (c) The subscription contracts specify that, in the event of default, the first payment will not be refunded to defaulting subscribers. Also, at this time, common shares are issued to subscribers that have fully paid on the contract. (d) Coronado repurchased and cancelled 90,000 common shares at a cost of $2.60 per share. (e) A cash dividend of $0.30 per share was declared. The date of record was after all of the events above