Online Assignment #$3$

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The equity section from the December $31,2020$ balance sheet of Kentucky Corporation appeared as follows:

References

Contributed capital:

$2021,2020$

Common shares, $57,300$ shares authorized; $25,560$ and $23,300$

shares issued and outstanding, respectively.

$$681,600,$$$573,180$

Retained earnings

$583,300$

$580,700$

The following transactions occurred during $2021($assume the retirements were the first ever recorded by Kentucky$)$:

Jan. $5$ A $$1\mathrm{.}40$ per share cash dividend was declared, and the date of record was five days later.

Mar. $202,000$ common shares were repurchased and retired at $$24\mathrm{.}60$ per share.

Apr. $5$ A $$1\mathrm{.}00$ per share cash dividend was declared, and the date of record was five days later.

July $5$ A $$2\mathrm{.}00$ per share cash dividend was declared, and the date of record was five days later.

July $31$ A $20\mathrm{.}008$ share dividend was declared when the market value was $$37\mathrm{.}00$ per share.

Aug. $14$ The share dividend was issued.

oct. $5$ A $$1\mathrm{.}80$ per share cash dividend was declared; and the date of record was five days later.

$2.$ How much profit did the company earn during $2021?$

Profit