The equity section of Celestial Seasonings Ltd. at December 31, 2014 appears below:

Contributed capital:
Common shares, unlimited shares authorized, 25,000 shares issued and outstanding	$ 375,000
Retained earnings	125,000
Total equity	$ 500,000

During 2015, Celestial completed the following transactions:

1. On January 2, Celestials board of directors declared a 10% share dividend to shareholders of record on January 25 to be distributed on February 1. The market price of Celestials shares on each of these dates was:

January 2	$15.50
January 25	15.75
February 1	14.60

2. On March 1, Celestial repurchased and retired 1,000 of its common shares, paying $16.50 per share.
3. On June 1, Celestial repurchased and retired 500 of its common shares, paying $13.00 per share.
4. On October 1, Celestials board of directors declared a 2:1 share split, effective October 1.
5. On November 1, Celestial sold 2,000 shares at $8.50 per share.
6. On December 1, Celestials board of directors declared a $0.50 per share cash dividend, payable on January 2, 2016 to the shareholders of record on December 15.

Required:

1. Complete the table below to calculate the actual and weighted average number of common shares outstanding at December 31, 2015. Round to the nearest full share.

Time Period	Outstanding Shares	Share dividend	Share split		Fraction of Year Outstanding	Weighted Average

2. Prepare journal entries to record the 2015 transactions. Show all supporting calculations.

Date	Account Titles	Debit	Credit