Sarasota$$Construction Ltd$.$ prepares its reports using IFRS. The following information relates to its shareholders$$ equity on January $1,2023,$ the first day of its fiscal year.

$$0\mathrm{.}80-$noncumulative preferred shares, unlimited number of shares authorized,$100,000$shares issued

$$1,100,000$

Common shares, unlimited number of shares authorized,$1,190,000$shares issued

$3,593,800$

Contributed surplus $($repurchase of common shares$)$

$15,200$

Retained earnings

$7,330,000$

Accumulated other comprehensive income

$(450,000)$

During the year, there were the following transactions related to shares.

$1.$

On May $15,2023,$Sarasota$$purchased equipment in exchange for$92,000$common shares with a market value of $$3\mathrm{.}15$per share. The fair value of the equipment was $$303,480.$

$2.$

On June $1,2023,$Sarasota$$s board of directors declared the semi$-$annual dividend to the preferred shareholders of record on June $15,$ payable June $30.$

$3.$

The semi$-$annual dividend to the preferred shareholders is paid on the appropriate date.

$4.$

On September $16,2023,$ reacquired$46,000$common shares for $$160,000$cash$.$

$5.$

On December $15,2023,$Sarasota$$s board of directors declared the second semi$-$annual dividend to the preferred shareholders and a$10\%$ stock dividend to the common shareholders for shareholders of record on December $31,2023$ payable January $20,2024.$ The market price of the common shares at December $15,2023$ was $$4$per share.

$6.$

Reported comprehensive income of $$1,470,000$for the year, consisting of $$1,470,000$of profit and $$0$ other comprehensive income.

$$

Prepare a schedule showing all transactions for common shares and the calculation of the average per share amount.$($Round average cost to $2$ decimal places, e$.$g$.$ $$52\mathrm{.}75.)$

Date

Transaction

# Shares

Proceeds

Average Cost

Jan.

$01$

Beginning balance

enter a number of shares

$enter a dollar amount$$

$enter a dollar amount rounded to $2$ decimal places$$

May

$15$

Issued shares

enter a number of shares

enter a dollar amount

Sub$-$total

enter a total of the two previous number of shares

enter a total of the two previous amounts

$enter a dollar amount rounded to $2$ decimal places$$

Sept.

$16$

Reacquisition

enter a number of shares

enter a dollar amount

enter a total number of shares

$enter a total amount$$

$enter a dollar amount rounded to $2$ decimal places$$

eTextbook and Media

List of Accounts

Attempts: $1$ of $1$ used

$($b$)$

Journalize each of the transactions.$($

Attempts: $0$ of $1$ used

Submit Answer

$($c$)$

Prepare the statement of changes in shareholders$$ equity for the year ended December $31,2023.($Enter negative amounts using either a negative sign preceding the number e$.$g$.-45$ or parentheses e$.$g$.(45).)$