The equity section from the December 31, 2023 balance sheet of Kentucky Corporation appeared as follows: Contributed capital: Common shares, 51,600 shares authorized; 25,440 and 23,100 shares issued and outstanding, respectively. Retained earnings 2024 2023 $631,760 $512,820 548,300 615,500 The following transactions occurred during 2024 (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 1,900 common shares were repurchased and retired at $22.20 per share. Apr. 5 A $1.00 per share cash dividend was declared, and the date of record was five days later.. July 5 A $1.90 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 $38.00 per share. Aug. 14 The share dividend was issued. Oct. 5 A $1.90 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? Jan. 5 Apr. 5 July 5 Oct. 5. Outstanding shares 2. How much profit did the company earn during 2024? 3. Prepare the statement of changes in equity for the year ended December 31, 2024, (Deductible values should be indicated by a minus sign.) Balance, January 1 Balance, December 31 KENTUCKY CORPORATION Statement of Changes in Equity For Year Ended December 31, 2024 Common Shares Retained Earnings Total Equity