Major Communications Ltd$.,$ a publicly traded company that specializes in data capture, has been in operation for several years. On October $1,2019,$ it had $10$ million common shares authorized and $1,530,000$ shares issued at an average value of $$29$ per share. As well, there were $1$ million preferred shares authorized, with $180,000$ of them issued at $$15$ per share. During the fiscal year ended September $30,2020,$ the company generated net income after taxes of $$23,620,000$ and other comprehensive loss of $$5,290,000.$ On October $1,2019,$ the balance in Retained Earnings was $$21,710,000$ and the balance in Accumulated Other Comprehensive Income was $$1,090\mathrm{.}000.$ The preferred shares pay an annual dividend of $$1\mathrm{.}20.$ During the fiscal year $2020,$ the following transactions affected shareholders' equity:

On November $1,2019,390,000$ new common shares were issued at $$31$ per share

On March $15,2020,$ a $5\%$ common stock dividend on the outstanding shares was declared and distributed when the market price was $$49$ per share.

$3$ On September $1,2020,$ a dividend of $$5\mathrm{.}15$ per common share was declared. The date of record was September $15,2020$ with the date of payment being October $5,2020.$

The prefer red dividend for the year was declared and paid.