The following shareholders'equity accounts are reported by Blossom Inc. on January 1: Common shares (unlimited authorized, 168,000 issued) $2,688,000 Preferred shares ($4 cumulative, convertible, 100,000 authorized, 6,200 issued) 465,000 Contributed surplus-reacquisition of common shares 32,400 Retained earnings 1.272.000 The following selected transactions occurred during the year: Feb. 11 Issued 56,000 common shares at $20 per share. Mar. 2 Reacquired 20,700 common shares at $22 per share. June 14 Split the common shares 2 for 1 when the common shares were trading at $30 per share. July 25 Reacquired 500 preferred shares at $70 per share. Sept 16 Reacquired 56,000 common shares for $17 per share. Oct 27 Declared a 5% common stock dividend distributable on December 13 to shareholders of record on November 24. The fair value of the common shares on October 27 was $19 per share. Dec. 13 Distributed the stock dividend declared on October 27. The fair value of the common shares on December 13 was $21 per share. The following shareholders'equity accounts are reported by Blossom Inc. on January 1: Common shares (unlimited authorized, 168,000 issued) $2,688,000 Preferred shares ($4 cumulative, convertible, 100,000 authorized, 6,200 issued) 465,000 Contributed surplus-reacquisition of common shares 32,400 Retained earnings 1.272.000 The following selected transactions occurred during the year: Feb. 11 Issued 56,000 common shares at $20 per share. Mar. 2 Reacquired 20,700 common shares at $22 per share. June 14 Split the common shares 2 for 1 when the common shares were trading at $30 per share. July 25 Reacquired 500 preferred shares at $70 per share. Sept 16 Reacquired 56,000 common shares for $17 per share. Oct 27 Declared a 5% common stock dividend distributable on December 13 to shareholders of record on November 24. The fair value of the common shares on October 27 was $19 per share. Dec. 13 Distributed the stock dividend declared on October 27. The fair value of the common shares on December 13 was $21 per share