The balance sheet for Tactex Controls Inc., provincially incorporated in $2021,$ reported the following components of equity on December $31,2022.$

Tactex Controls Inc.

Equity Section of the Balance Sheet

December $31,2022$

Contributed capital:

Preferred shares, $$1\mathrm{.}1$ cumulative, unlimited shares authorized;

$10,000$ shares issued and outstanding

Common shares, unlimited shares authorized; $65,000$ shares issued and

outstanding

Total contributed capital

Retained earnings

Total equity

In $2023$ and $2024,$ the company had the following transactions affecting shareholders and the equity accounts:

$2023$

Jan. $1$ Sold $20,000$ common shares at $$9\mathrm{.}64$ per share.

$5$ The directors declared a total cash dividend of $$221,000$ payable on Feb. $28$ to the Feb. $5$ shareholders of record. Dividends had not been declared for the years $2021$ and $2022.$ All of the preferred shares had been issued during $2021.$

Feb. $28$ Paid the dividends declared on January $5.$

July $1$ sold preferred shares for a total of $$155,800.$ The average issue price was $$20$ per share.

Dec. $31$ Closed the dividend accounts along with the $$575,800$ credit balance in the Income summary