Share capital- preference, 2% cumulative, $80 par (500,000 shares authorized, 10,000 shares issued) $800,000

Share capital- preference, 5% non-cumulative, $10 par (400,000 shares authorized, 20,000 shares issued) $200,000

Share capital- ordinary,$20 par (900,000 shares authorized, 200,000 shares issued) $4,000,000

Share Premium $400,000 Retained earnings $8,400,000

Net profit for the year $550,000

Note these shares were issued on 1 Jan 2013 During the year , the corporation completed a number of transactions affecting the shareholders equity.

2014

Feb 18 Purchased 90,000 shares of treasury ordinary share for $8 per share

Apr 02 Sold 25,000 shares of treasury ordinary share for $11 per share

Jul 05 Issued 40,000 shares of share capital-preference, 2% cumulative at $81

Aug 06 Issued 300,000 shares of share capital-ordinary at $21, receiving Cash

Oct 01 Issued 60,000 shares of share capital-preference, 5% non-cumulative at $12

Nov 07 Sold 45,000 shares of treasury ordinary share for $7.5 per share

Dec 30 Declared $300,000 cash dividends in total for shareholders with date on record of 15 Jan 2015

The company did not declare any dividends for the last year

2015

Feb 02 Paid the cash dividends Calculate the number of outstanding shares of each class of shares at the year end

Calculate the dividend for each class of shares for the year of 2014 Jounalize the entries to record the transactions

Prepare a statement of retained earning for the year ended 31 December 2014

Prepare the Shareholders Equity section of the statement of financial position as at 31 December 2014