The equity section from the December 31, 2020 balance sheet of Kentucky Corporation appeared as follows: 2021 2020 Contributed capital: Common shares, 46,800 shares authorized; 25,080 and 22,900 shares issued and outstanding, respectively. $ 551,760 $ 458,000 Retained earnings 552,300 548,800 The following transactions occurred during 2021 (assume the retirements were the first ever recorded by Kentucky): Jan. 5 A $1.50 per share cash dividend was declared, and the date of record was five days later. Mar. 20 2,000 common shares were repurchased and retired at $20.00 per share. Apr. 5 A $0.90 per share cash dividend was declared, and the date

Required: 1. How many shares were outstanding on each of the cash dividend dates?

Item8

6points

Time Remaining 31 minutes 58 seconds

00:31:58

Item 8

Time Remaining 31 minutes 58 seconds

00:31:58

The equity section from the December 31, 2020 balance sheet of Kentucky Corporation appeared as follows:

	2021		2020
Contributed capital:
Common shares, 46,800 shares authorized; 25,080 and 22,900 shares issued and outstanding, respectively.	$	551,760		$	458,000
Retained earnings		552,300			548,800

The following transactions occurred during 2021 (assume the retirements were the first ever recorded by Kentucky):

	Jan.		5		A $1.50 per share cash dividend was declared, and the date of record was five days later.
	Mar.		20		2,000 common shares were repurchased and retired at $20.00 per share.
	Apr.		5		A $0.90 per share cash dividend was declared, and the date of record was five days later.
	July		5		A $1.60 per share cash dividend was declared, and the date of record was five days later.
	July		31		A 20.00% share dividend was declared when the market value was $32.00 per share.
	Aug.		14		The share dividend was issued.
	Oct.		5		A $1.70 per share cash dividend was declared, and the date of record was five days later.

Required: 1. How many shares were outstanding on each of the cash dividend dates?

2. How much profit did the company earn during 2021?

3. Prepare the statement of changes in equity for the year ended December 31, 2021. (Deductible values should be indicated by a minus sign.)