the equity account for kalimantan corp showed the following balances on dec31 2016 preferred shares 2$ non cumulative unlimited share authorized 0$ common share unlimited shares authorized 100000 shares issued and outstanding 640,000 retained earnings 864000 the company completed these transactions during 2017 jan 10 issued 20000 common shares at 9.60 cash per share jan 15 the directors declared a 10% share dividend to jan 30 shareholders of record ,distributable on feb 15.