Exercise 2 The following items were shown on the balance sheet of McKean Corporation on December 31, 2019: Shareholders' Equity Share Capital Common shares, no par value, unlimited number of shares authorized; shares issued.. 41.$1,200,000/5 $2 preferred shares, redeemable at $120, cumulative, 120.000 20,000 shares authorized, 6,000 shares issued 1,320,000 Total share capital.... 500.000 Retained Earnings..... $1.820.000 Total shareholders' equity... Instructions Complete the following statements and show your calculations. All of the common shares were issued at $5 per share. $ 1320nggoo 15 a. The number of common shares issued was = 240000 b. The preferred shares dividend was $ per share. c. It would cost the company $_ to redeem 1,000 preferred shares. d. The average issue price of the preferred shares was $_ e. The total amount of cash and other assets paid to McKean Corporation in exchange for share capital, at December 31, 2019 was $