Shockey Electric Ltd. has a December 31 year end. On January 1, 2021, the company had the following shareholder's equity accounts.

Preferred Shares, $2 noncumulative, unlimited number authorized, 20,000 issued	$550,000
Common Shares, unlimited number authorized, 80,000 issued	950,000
Retained Earnings	1,075,000
Accumulated Other Comprehensive Income	14,000

Shockey Electric Ltd. had the following transactions during 2021:

Feb 28

Issued 1,000 Preferred shares at $36 per share.

May 1

Reacquired 5,000 Common Shares at $12.50 a share.

Jul 31

Announced a 2 for 1 stock split of the common shares. Immediately before the split, the

share price was $12 a share.

Sep 1

Declared the annual dividend on the preferred shares for shareholders of record Sept

15th, payable Oct 1st.

Dec 1

Declared a common dividend of $1 a share for all shareholders of record December 15.

The dividend is payable December 30. The company reported income of $710,000, including other comprehensive income of $12,000 for 2021. Instructions

a)	Record all of the transactions.

b)	Prepare the Statement of Changes in Shareholders' Equity.

c)	Calculate Backwater's 2021 earnings per share.

Need answer in written form on chegg.