P$14-1$A Gull Lake Enterprises Inc. had $100,000$ common shares at July $1,2007,$ the beginning of its fiscal year. Mark Bradbury is the president and largest shareholder, owning $25\%$ of the common shares. On July $1,$ the common shares were trading on the Toronto Stock Exchange for $$25$ per share. Gull Lake Enterprises' Common Shares and Retained Earnings accounts had opening balances of $$2,000,000$ and $$350,000,$ respectively.

You have the following information about selected events and transactions that occurred during the year ended June $30,2008$:

Aug. $31$ The company declared a $4\%$ stock dividend to shareholders of record on September $15,$ distributable on September $30.$ The shares were trading at $$28$ per share on August $31,$$$30$ on September $15,$ and $$29$ on September $30.$

Dec. $1$ The company issued $20,000$ common shares for $$30$ per share. Mark Bradbury acquired $5,000$ of these shares to keep his $25\%$ interest in the company.

Mar. $31$ The company's shares were trading at $$26$ per share and the company effected a $2-$for$-1$ stock split. After the split, each share was trading at $$13.$

June $30$ The share price at the close of business on June $30$ was $$15.$

Instructions

Starting with the July $1$ opening balances, indicate the impact of each transaction on the following:

$($a$)$ The balance in the Common Shares account

$($b$)$ The number of common shares issued by the company

$($c$)$ The balance in the Retained Earnings account

$($d$)$ The number of shares held by Mark Bradbury

$($e$)$ The share price

$($f$)$ The market value of Mark Bradbury's portfolio of common shares