Question 4 at the beginning of the year LKS Itd has the following balances 512.800.000 $6,570,000 12.340.000 share capital Common shares up to a max 5.000.000 authorized 1,600,000 shares issued at average price per share 58 S3 cumulative Preferred shares up to a max 300.000 authorized 90,000 shares issued at the average share price $73 Retained earnings opening balance the following transactions occur during the year a) the board declares a cash dividend of 51.000.000 On Jun 1 (the company failed to pay last years preferred dividend) b) the company pays the cash dividend on Jun 11 c) the company does a 3:1 stock split to increase the marketability of the shares d) the company issues 1000 preferred shares to the accountant to cover accounting expenses of Common only) 65000 On Jul 13 e) the company makes a net income of 51.600.000 Year end: Jul 31 Description DR CR Date a) b) c) e Prepare a statement of retained earnings for LKS Itd Prepare a statement of retained earnings for LKS Itd LKS Itd opening balance + net income cash dividend - stock divdend Closing balance prepare a statement of shareholders equity statement of shareholders equity LKS Itd share capital common shares issued $3 preferred shares issued Total share capital Retained earnings total shareholders equity what is the average price of the common share? what is the average price of the preferred share? What was the dividend per share for the common shares