Pearl City Ltd$.$ was incorporated as a private company on January $2,2024,$ and is authorized to issue an unlimited number of common

shares and $$1$ preferred shares. The company had the following share transactions in its first month of operations:

Jan. $6$ Issued $228,000$ common shares for $$1\mathrm{.}50$ per share.

$12$ Issued $57,000$ common shares for $$1\mathrm{.}75$ per share.

$17$ Issued $11,400$ preferred shares for $$25$ per share.

$18$ Issued $570,000$ common shares for $$2$ per share.

$24$ Repurchased $228,000$ common shares at $$1\mathrm{.}90$ per share.

$31$ Issued $11,400$ common shares in exchange for $$17,100$ of legal services. Common Shares

Retained Earnings

$1[$

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