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The following is the shareholders' equity part of Company ABC's balance sheet: Shareholders' Equity Contributed Capital Common shares, 1,000,000 shares authorized 1.500.000 250,000 shares issued
The following is the shareholders' equity part of Company ABC's balance sheet: Shareholders' Equity Contributed Capital Common shares, 1,000,000 shares authorized 1.500.000 250,000 shares issued and outstanding Total Contributed capital 1,500,000 Retained Eamings 410.000 Total Shareholders' Equity $1,910,000 The following are transactions that happened during the year 2020: Feb. 17: declared an 8% stock dividend on the common shares. The market value of the shares was $6 per share April 12: distributed the stock dividends. June 22 repurchased 25,000 of the company's own common shares at $5 per share. Average issue price was $6 Nov. 15: issued 20,000 common shares for $7 per share. Dec. 2: declared a $0.25 per share dividend on the common shares. Dec 31: close net income of $325,000 to Retained Earnings. Required: Record the transactions in the general journal. Present the shareholders' equity section of the balance sheet as of December 31, 2020 Calculate earnings per share on December 31, 2020
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