Rose Company, a public company, equity balances at December 31, 2019 as follows: Common shares, no par value, 200,000 shares authorized, 10,000 issued, 10,000 outstanding Contributed surplus Retained earnings Total shareholders equity 350,000 3,500 150,000 $503,500 Presented below is information related to Roses capital transactions during 2020: January 10 February 1 March 1 March 10. March 12 December 28 Rose repurchased 1,000 of its common shares for $40 each and retired them. 10,000 common shares are issued in exchange for land with an appraised market value of $303,000. The shares were trading at $31 each 1 month ago. The directors declared a 10% stock dividend to common shareholders payable to shareholders of record. The shares were trading at $40 each on this date. Distributed the dividends declared March 1. The shares were trading at $42 each on this date. 100 common shares and 3,000 preferred shares are sold for a lump sum amount of $303,800 cash. Common shares were trading at $38 per share on this date. Preferred shares, $2, cumulative, fully participating The directors declared a total cash dividend of $36,000 (5 marks Must show all your work i.e. allocation breakdown between common and preferred shareholders.) December 30 Rose reacquired 1,000 of its common shares for $28,000 and retired them.