Espresso Corporation, a publicly traded company, was organized on January 1, 2021. It is authorized to...

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Espresso Corporation, a publicly traded company, was organized on January 1, 2021. It is authorized to issue an unlimited number of $3 noncumulative preferred shares and an unlimited number of common shares. The following share transactions were completed during the company's first year of operations: Jan. 10 Issued 970,000 common shares for $2 per share. Mar. 1 Issued 18,000 preferred shares for $50 per share May 1 June 1 Issued 242.500 common shares for $3 per share. July 24 Repurchased and retired 11,000 common shares at $2 per share. Determine the average cost of each repurchased share to the nearest cent before recording this transaction. Issued 30,800 common shares for $123.000 cash and used equipment. The equipment would have cost $27,000 if Remmers had purchased it new and a recent appraisal determined that the equipment had a fair value of $14,500. The common shares were trading for $4 per share on this date. Sept. Nov. 4 Issued 11.000 common shares for $5 per share. - 8 20 Dec. 14 31 Issued 4,400 preferred shares for $50 per share Repurchased and retired 14,000 common shares at $4 per share. Determine the average cost of each repurchased share to the nearest cent before recording this transaction Declared a $77,000 cash dividend to the preferred shareholders, to shareholders of record on December 31. payable on January 10. Reported net income of $1.20 million for the year. ENG Espresso Corporation, a publicly traded company, was organized on January 1, 2021. It is authorized to issue an unlimited number of $3 noncumulative preferred shares and an unlimited number of common shares. The following share transactions were completed during the company's first year of operations: Jan. 10 Issued 970,000 common shares for $2 per share. Mar. 1 Issued 18,000 preferred shares for $50 per share May 1 June 1 Issued 242.500 common shares for $3 per share. July 24 Repurchased and retired 11,000 common shares at $2 per share. Determine the average cost of each repurchased share to the nearest cent before recording this transaction. Issued 30,800 common shares for $123.000 cash and used equipment. The equipment would have cost $27,000 if Remmers had purchased it new and a recent appraisal determined that the equipment had a fair value of $14,500. The common shares were trading for $4 per share on this date. Sept. Nov. 4 Issued 11.000 common shares for $5 per share. - 8 20 Dec. 14 31 Issued 4,400 preferred shares for $50 per share Repurchased and retired 14,000 common shares at $4 per share. Determine the average cost of each repurchased share to the nearest cent before recording this transaction Declared a $77,000 cash dividend to the preferred shareholders, to shareholders of record on December 31. payable on January 10. Reported net income of $1.20 million for the year. ENG