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

2021 2020

Contributed capital:

Common shares, 50,000 shares authorized; 23,160 and 21,100 shares issued and outstanding, respectively. $ 509,520 $ 422,000

Retained earnings 563,000 451,000

How many shares were outstanding on each of the cash dividend dates?

1 Jan. 5 Apr. 5 July 5 Oct. 5

Outstanding shares

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.)