Reacquisition/Divindshares outstanding for which there At the beginning of the current year, lago Co. has 16,000 common shares outstanding, for which there is a balance of $640,000 in share capital. The following activities take place during the year. Repurchased 1,600 shares paying $36 per share Jan 15 Repurchased 1,600 shares paying $45 per share. Feb 15 Declared a cash dividend of $0.60 per share payable on April 15 to shareholders of record on March 31. Mar 15 Date of record for cash dividend Mar 31 Apr 15 Cash dividend is paid Shares held as a long term investment will be distributed to shareholders by way of a dividend. The investment has a book value of $100,000, and the fair value of the investments is $102,000 on this date. The shares will be transferred on May 31 to shareholders of record on May 22. May 15 Date of record for the dividend declared on May 15. The investment now has a fair value of $100,000. May 22 The investments are transferred to shareholders. The investment now has a fair value of $104,000. May 31 A common share stock dividend is declared. Shareholders of record on June 30 will receive a 20% dividend in shares on July 15, currently valued at $68.00 per share Jun 15 The shares are Date of record for the stock dividend declared on June 15. The common share are now has a trading at $66.60. Jun 30 The shares are transferred to shareholders. The shares now have a fair value of $65.30 Jul 15 Required: Prepare entries for the transaction dates above