The equity section from the December 31, 2017 and 2018, balance sheets of Westburne Corporation appeared as follows: 2018 2017 Common shares, 50,000 shares authorized; 27,240 and 26,200 shares issued and outstanding, respectively Retained earnings $599,280 $524,000 580,000 468,000 The following transactions occurred during 2018 (assume the retirements were the first ever recorded by Westburne): 5 A$1.60 per share cash dividend was declared, and the date of record was five days later 3,500 common shares were repurchased and retired at $20.00 per share. A $1.60 per share cash dividend was declared, and the date of record was five days later A$1.60 per share cash dividend was declared, and the date of record was five days later. A 20% share dividend was declared when the market value was $32.00 per share The share dividend was issued. A $1.60 per share cash dividend was declared, and the date of record was five days later. Jan. Mar. 20 Apr. 5 July 5 July 31 Aug. 14 Oct. 5 Required: 1. How many shares were outstanding on each of the cash dividend dates? Jan. 5 Apr. 5 July 5 Oct. 5 Outstanding shares 2. How much profit did the company earn during 2018? Profit