HP5P is a Canadian Controlled Private Corporation. The company was formed on Jan 1, 2017. On Dec 31, 2018, the company had 50,000 Common Shares and 20,000 $2 cumulative preferred shares outstanding. Contributed Share Capital on that date as per the Balance Sheet is the following: Common Shares: 150,000 Preferred Shares: 140,000 Retained Earnings: 79,250 During 2019, the company performed the following share related transactions. 1. Issued 5,000 common shares for $2.80 each. 2. Issued 1,000 preferred shares in exchange of legal services. The legal fee was $6,000 and book value of preferred share was $7 per share. The company never declared or distributed dividends. However, because of the growth of business, the board of directors of the company declared cash dividend of 82,750 and 10% stock dividend on Dec 14, 2019. The cash dividend was paid on Jan 5, 2020. The company's net income for 2019 was 49,400. The market price of the common shares was 1.50 per share on Dec 14, 2019. Stock Dividend was distributed on Jan 18, 2020. The company uses Retained Earnings method to record dividends. The Total Shareholder's Equity at end of year was: Year 2018 Choose... Year 2019 Choose... Amount of Cash Dividend Distributed to Shareholders: Preferred Shares dollar per share, total cash dividend Choose... dollar, total value of stock dividend Common Shares 0 dollar per share, total cash dividend Choose... dollar, total value of stock dividend 8,250 e Journal Entry for Cash Dividend will be: Dr. Retained Earnings Dr. Dividend Payable Journal Entry for Stock Dividend will be: Dr. Retained Earnings Cr. Dividend Distributable What is the balance on Common Shares and how many common shares will be outstanding at end of Jan 18, 2020