Rainbow Ltd$,$ reported $$354,680$ net income for the year ended December $31,202$X and declared and paid preferred dividends of $$45,800$ on December $31,202$X$.$ The following changes in common shares outstanding occurred during $202$X:

Jan $1320,000$ common shares were outstanding

June $30$ Issued $50,000$ common shares

Sept $1$ Declared and issued a $20\%$ common share dividend

Nov $1$ Repurchased and retired $26,000$ common shares

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