Lawn Corporation, a publicly traded company, was organized on January 1, 2021. It is authorized to issue an unlimited number or $3 noncumulative preferred shares and an unlimited number of common shares. The following share transactions were completed during the company's first year of operations: Jan. 10 Issued 940,000 common shares for $2 per share. Mar. 1 Issued 22.000 preferred shares for $50 per share, May 1 Issued 235,000 common shares for $3 per share. June 1 Repurchased and retired 9.000 common shares at $2 per share. Determine the average cost of each repurchased share to the nearest cent before recording this transaction. July 24 Issued 33.600 common shares for $130,000 cash and used equipment. The equipment would have cost $30,000 if Remmers had purchased it new and a recent appraisal determined that the equipment had a fair value of $16,000. The common shares were trading for $4 per share on this date. Sept. 4 Issued 10.000 common shares for $5 per share. Nov. 1 Issued 3.700 preferred shares for $50 per share. 20 Repurchased and retired 16.000 common shares at $4 per share. Determine the average cost of each repurchased share to the nearest cent before recording this transaction Dec. 14Declared a $68.000 cash dividend to the preferred shareholders, to shareholders of record on December 31, payable on January 10 31 Reported net income of $1.21 million for the year. Open T accounts and post to the shareholders' equity accounts. (Record entries in the order presented in the problem.) Preferred Shares Common Shares

Lawn Corporation, a publicly traded company, was organized on January 1,2021 . It is authorized to issue an unlimited number or $3 noncumulative preferred shares and an unlimited number of common shares. The following share transactions were completed during the company's first year of operations: Jan 10 Issued 940,000 common shares for $2 per share. Mar. 1 Issued 22.000 preferred shares for $0 per share, May 1 Issued 235,000 common shares for $3 per share. June 1 Repurchased and retired 9.000 common shares at $2 per share. Determine the average cost of each repurchased share to the nearest cent before recording this transaction. July 24 Issued 33,600 common shares for $130,000 cash and used equipment. The equipment would have cost $30,000 if Remmers had purchased it new and a recent appraisal determined that the equipment had a fair value of $16,000. The common shares were trading for $4 per share on this date. Sept, 4 Issued 10.000 common shares for $5 per share: Nov: 1 Issued 3.700 preferred shares for $50 per share. 20 Repurchased and retired 16.000 common shares at $4 per share. Determine the average cost of each repurchased share to the nearest cent before recording this transaction Dec, 14 Declared a $68.000 chith dividend to the preferred shareholders, to shareholders of record on December 31, payable on Jausary 10 31 Reported aet income of $1.21 million for the year Open I accounts and post to the shareholder' equify accounts. (Record entries in the order presented in the problem.) Preferted Shares Fnmmon Slenges Open T accounts and post to the shareholders' equity accounts. (Record entries in the order presented in the problem.)