The following is the shareholders equity section of Swifty Corp. at December 31, 2020:

Preferred shares,a authorized 110,000 shares; issued 28,000 shares		$	812,000
Common shares (unlimited authorized, 62,000 issued)			1,550,000
Contributed surplus			126,000
Total paid-in capital			2,488,000
Retained earnings			2,590,500
Total shareholders equity		$	5,078,500

^a The preferred shares have a $2 dividend rate, are cumulative, and participate in distributions in excess of a $3 dividend on the common shares.

No dividends were paid in 2018 or 2019. On December 31, 2020, Swifty wants to pay a cash dividend of $5 per share to common shareholders. How much cash would be needed for the total amount to be paid to preferred and common shareholders? (Round excess return percentage to 4 decimal places, e.g. 52.7531% and final answer to 0 decimal places, e.g. 5,275.)

		Preferred		Common		Total
Amount to be paid to shareholders		$		$		$

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The company decides instead that it will declare a 15% stock dividend on the outstanding common shares at their fair value. The common shares fair value on the date of declaration is $45 per share. Prepare the entry on the date of declaration. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Account Titles and Explanation	Debit	Credit

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The company decides instead to acquire and cancel 10,400 common shares at the current fair value of $45 per share. Prepare the entry to record the retirement, assuming the contributed surplus balance arose from previous cancellations of common shares. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Account Titles and Explanation	Debit	Credit