The equity section from the December 31, 2023 and 2024, balance sheets of Westburne Corporation appeared as follows: Contributed capital: Common shares, 50,000 shares authorized; 26,040 and 24,700 shares issued and outstanding, respectively Retained earnings Required: 1. How many shares were outstanding on each of the cash dividend dates? Outstanding shares The following transactions occurred during 2024 (assume the retirements were the first ever recorded by Westburne): Jan. 5 A $1.60 per share cash dividend was declared, and the date of record was five days later. Mar. 20 3,000 common shares were repurchased and retired at $20.00 per share. Apr. 5 A $1.60 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% share dividend was declared when the market value was $32.00 per share. Aug. 14 The share dividend was issued. Oct. 5 A $1.60 per share cash dividend was declared, and the date of record was five days later.. Jan. 5 Apr. 5 July 5 2024 Oct. 5 2023 $572,880 $494,000 575,000 463,000