Score: 0 of 3 pts S8-5 (similar to) 5 of 7 (0 complete) On December 31, 2020, shareholders' equity accounts of Air Products Inc. (API) had the balances shown below. API paid dividends of $4,100 on December 1, 2020 (Click the icon to view the shareholders' equity balances.) 1. API sold 8.000 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 API's sale of the common shares on June 30, 2020 3. Based only on the above information, did API earn a profit or loss during 2020? Calculate the profit or loss. Requirement 1. API sold 8,000 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 sper share. Shareholders' equity balances 2020 2019 Common shares $ 54,000 74,000 $ 80.500 79.000 Retained earnings $ 154,500 $ 133,000 Total shareholders' equity Print Done