Kalkata Company began operations on January $1,$ Year $1.$ The following transactions and events occurred in Year $1$:

$1)$ On January $1,$ Kalkata issued $8,000$ no$-$par value common shares for $$130\mathrm{.}00$ per share.

$2)$ On November $1,$ Kalkata repurchased and cancelled $800$ of the common shares for $$136\mathrm{.}50$ per share.

$3)$ On December $1,$ Kalkata declared and paid dividends to the common shareholders of $$4\mathrm{.}00$ per share.

$4)$ During all of Year $1,$ ABC earned net income of $$156,000.$