On January 1, 2020, Eunland Limited had shares outstanding as follows: 7% cumulative preferred shares, $100 par value, 10,400 shares issued and outstanding $ 1,040,000 Common shares, 209,000 shares issued and outstanding 2,090,000 To acquire the net assets of three smaller companies, the company authorized the issuance of an additional 332,000 common shares. The acquisitions were as follows: Date of Acquisition Shares Issued Company A: April 1, 2020 197,000 Company 3: July 1, 2020 109,000 Company C: October 1, 2020 26,000 On May 14, 2020, Sunland realized a $100,000 gain {before tax} on a discontinued operation from a business segment that had originally been purchased in 2000. On December 3 1, 2020, the company recorded income of $675,000 before tax, not including the discontinued operation gain. Sunland has a 40% tax rate