Manto Realty Ltd. is a land developer with a calendar year end. When Manto needs capital to buy land, it often issues common shares, and once cash is obtained on large land sales, shares are often repurchased. Profit for the year ended December 31, 2021 was $920,000. Manto's board of directors declared and paid the annual dividend to its preferred shareholders. Manto Realty Ltd. reported the following information related to its shareholders' equity on January 1, 2021. $2-cumulative preferred shares, unlimited number of shares authorized, 100,000 shares issued $4,400,000 Common shares, unlimited number of shares authorized, 550,000 shares issued 3,322,000 Contributed surplus-reacquisition of common shares Retained earnings Common share issuances and reacquisitions were as follows for 2021. Feb. 1 Issued 24,000 shares May 31 Reacquired 19,200 shares July 31 Issued 39,600 shares Nov. 1 Issued 9,600 shares Dec. 1 Reacquired 27,600 shares 21,000 5,254,000