Question #3 - (12 Marks) The equity section of XYZ Limited balance sheet for 2020 and 2021 showed the following information: 2021 2020 Contributed Capital: Common Shares issues and outstanding 18,900 and 8,500 respectively Retained Earnings Total Equity $268,920 $240,000 480.000 $748,920 162.000 $402,000 The following occurred during 2021: Feb. 15 A $0.48 per share cash dividend was declared. The cash dividend was paid to the shareholders of record on March 1st. The cash dividends were paid out five days later. Mar. 2 500 common shares were issued at $27.60 per share May 15 A $0.48 per share cash dividend was declared. The cash dividend was paid to the shareholders of record on June 154 The cash dividends were paid out five days later. Aug. 15 A 2:1 share split was declared and was distributed to shareholders of record five days later T Oct. 4 A 5% share dividend was declared when the market value was $16.80 per share. The dividend shares were issued on October 20th Nov. 15 A $0.48 per share cash dividend was declared and the cash dividend was paid to the shareholders of record on November 20th The cash dividends were paid out five days later. June 1. The cas Required: 1) Determine the number of shares outstanding on each of the cash dividend dates. 2) How much profit did XYZ Limited earn in 2021? ality: Investigate