S8-5 (similar to) Question Help On December 31, 2020, shareholders' equity accounts of Recycle Products Inc. (RPI) had the balances shown below. RPI paid dividends of $4,300 on December 1, 2020. B (Click the icon to view the shareholders' equity balances.) 1. RPI sold 2,000 common shares on June 30, 2020. What was the average selling price of these shares if this was the only common-shares transaction during 2020? 2. Journalize RPI's sale of the common shares on June 30, 2020. 3. Based only on the above information, did RPI earn a profit or loss during 2020? Calculate the profit or loss. Requirement 1. RPI sold 2,000 common shares on June 30, 2020. What was the average selling price of these shares if this was the only common-shares transaction during 2020? (Round your answer to the nearest cent.) The average selling price of the shares was S per share. Shareholders' equity balances 2020 2019 Common shares S 78,000 $ 83,500 58,000 80,000 Retained earnings Total shareholders' equity $ 161,500 $ 138,000 ? Enter your answer in the answer box and then click Check Answer. Print Done Check Answer 2 parts remaining