H55 Corporation, a publicly traded company, is authorized to issue 540,000 $4 cumulative preferred shares and an unlimited number of common shares. On January 1, 2024, the general ledger contained the following shareholders' equity accounts: Preferred shares (6,480 shares issued) Common shares (97,200 shares issued) Contributed surplus Retained earnings Accumulated other comprehensive income Jan. 4 Apr. 15 29 May 17 Aug. 13 $453,600 777,600 The following equity transactions occurred in 2024: Dec. 16 16,200 648,000 5,400 Issued 32,400 common shares for $324,000. Issued 12,960 preferred shares for $1,036,800. Repurchased and retired 10,800 common shares at $7.50 per share. The balance in the Contributed Surplus account arose from the repurchase of common shares in prior years. Declared a semi-annual cash dividend to the preferred shareholders of record at June 14, payable July 5. Issued 27,000 common shares for $189,000. The board of directors decided there were insufficient funds to declare the semi-annual dividend to the preferred shareholders. $1019 760

H55 Corporation, a publicly traded company, is authorized to issue 540,000$4 cumulative preferred shares and an unlimited number of common shares. On January 1,2024, the general ledger contained the following shareholders' equity accounts: The following equity transactions occurred in 2024: Jan. 4 Issued 32,400 common shares for $324,000. Apr. 15 Issued 12,960 preferred shares for $1,036,800. 29 Repurchased and retired 10,800 common shares at $7.50 per share. The balance in the Contributed Surplus account arose from the repurchase of common shares in prior years. May 17 Declared a semi-annual cash dividend to the preferred shareholders of record at June 14, payable July 5. Aug: 13 Issued 27,000 commonshares for $189,000. Dec. 16 The board of directors decided there were insufficient funds to declare the semi-annual dividend to the preferred shareholders