Question
Culver Limited reported profit of $497,290 for its November 30, 2021, year end. Cash dividends of $87,700 on the common shares and $61,800 on
Culver Limited reported profit of $497,290 for its November 30, 2021, year end. Cash dividends of $87,700 on the common shares and $61,800 on the noncumulative preferred shares were declared and paid during the year. The following information is available regarding Culver's common shares: Dec. 1, 2020 The opening number of common shares was 63,100. Feb. 28, 2021 Sold 9,400 common shares for $169,200 cash. May 31, 2021 Reacquired 4,700 common shares for $75,200 cash. Nov. 1, 2021 Issued 14,100 common shares in exchange for land with a fair value of $290,000. Your answer is correct. Calculate the profit available to common shareholders. Profit available to common shareholders $ 435490
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