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Skyscrap Inc. reported 800,000 common shares outstanding and 2,000,000 common shares authorized at December 31, 2011. The corresponding common share capital was reported at $5,234,600. 1. Assume that on March 1, 2012, Skyscrap issued 12,000 common shares to Palmer Corporation, in exchange for equipment with a fair market value of $130,000. The board of directors determined the appropriate market value per share as $7. On July 1, Skyscrap purchased 20,000 of its shares in the market at $6.10 each and cancelled them. What will be the revised amount of the common share capital following these transactions? a. $5,187,000. b. $5,124,000. c. $5,232,467 d. $5,198,720. e. None of the above but $. 2. Ignore the transactions in (1) above. Skyscrap declared a 15% stock dividend. The board of directors determined the appropriate market value per share as $8 after the effects of the dividend. (Example: ex-dividend). How much should be recorded for the stock dividend? a. $960,000. b. no entry. c. $785,190. d. $2,400,000 e. None of the above but $ 3. For (2) above, assume the same facts except that the $8 per share market value was prior to the dividend declaration. How much should be recorded for the stock dividend? a. O b. $960,000 c. $834,783 d. $640,000. e. none of the above, but $_