Hiroole Corporation, a publicly traded company is authorized to issue 207,000 $4 noncumulative preferred shares and an unlimited number of common shares. On January 1, 2021, the general ledger contained the following shareholders' equity accounts: Preferred shares (8.500 shares issued) $467.500 Common shares (68.600 shares issued) 1.097,600 Contributed surplus 22.700 Retained earnings 841,000 Accumulated other comprehensive income 10,400 The following equity transactions occurred in 2021 Feb Apr 6 6 27 Issued 9.900 preferred shares for $603.900 Issued 19,600 common shares for 557200 Repurchased and retired 2.900 common shares a 18 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 recordatan 12payable July 1 Issued 8.900 common shares in exchange for a building At the time of the change the building was valued at 5173300 and the common shares at $157,000 May 29 Aug 22 TEM Dec 14 The board of directors decided there were insufficient funds to declare the semi-annual dividend to the preferred shareholders Net income for the year was $539.000 31 Share Capital Contribut Surplus Preferred Shares Common Shares $ Balance, Jan. 1 467500 $ 1097600 $ Issued preferred shares i Issued common shares Repurchased common shares Dividends declared i i Net income $ $ Balance, Dec. 31 Contributed Surplus Total Retained Earnings Accumulated Other Comprehensive Income $ 10400 $ $ 22700 841000 539000 $ 10400 S $