Monty Limited reported profit of $421,030 for its November 30, 2021, year end. Cash dividends of $88,900 on the common shares and $63,400 on the noncumulative preferred shares were declared and paid during the year. The following information is available regarding Monty's common shares: Dec. 1, 2020 The opening number of common shares was 52,500. Feb. 28, 2021 Sold 8,400 common shares for $142,800 cash. May 31, 2021 Reacquired 4,200 common shares for $63,000 cash. Nov. 1, 2021 Issued 12,600 common shares in exchange for land with a fair value of $300,000.