Quality Cleaning Corp. issued 50 no-par-value common shares for land with a market value of $4.000. Dillon had originally issued common shares at $100 two years ago, but there is currently no market value available for their shares. The amount of contributed capital arising from this transaction is The income statement for Weatherford International Inc.'s year ended December 31, 2020, was prepared by an inexperienced bookkeeper. As the new accountant, your immediate priority is to correct the statement. All amounts included in the statement are before tax (assume a rate of 30%). The company had 118,000 common shares issued and outstanding throughout the year, as well as 23,600 shares of $1.20 cumulative preferred shares issued and outstanding. Retained earnings at December 31, 2019, were $337,800. Weatherford International Inc. Income Statement December 31, 2020 Revenues : Sales Gain on sale of equipment Interest income Gain on sale of plant Operating profit on discontinued operation Expenses: Cost of goods sold Selling and administrative expenses Sales discounts Loss on sale of discontinued operation Dividends Profit Earnings per share $1,197, eee 16,200 7,080 143,400 29,940 $1,393,620 $366, eee 189,000 12,660 37,880 138.000 743,460 $ 650, 160 $ 5.51 Required