On January 1, 2021, Ivanhoe Incorporated had an unlimited number of common shares authorized, 220,000 issued, and the balance in the Common Shares account was $2.2 million. The company reported a balance in Retained Earnings on this date of $810.000 and accumulated other comprehensive income of $28,000. During the year, the following occurred: 1. Issued 80,000 common shares at $14 per share on July 1. 2. 3. Declared a 3-for-2 stock split on September 30 when the fair value was $18 per share. Declared a 5% stock dividend on December 9 to common shareholders of record at December 30. distributable on January 16, 2022. At the declaration date, the fair value of the common shares was $21 per share. 4. Earned profit of $430,000 for the year. 5. Recognized a loss on equity investments of $41,000 before tax, which will be reported as other comprehensive income. The company's income tax rate is 25%.