Thistle Links Inc. (Thistle) was a sports management company headquartered in Toronto, Ontario. The company had experienced gradual but consistent growth over the last number of years. In fiscal 2021 , a wide variety of occurrences related to Thistle's equity financing had to be accounted for. Thistle's accountant reviewed the company's records and information, beginning with the shareholders' equity section of the firm's Statement of Financial Position from the previous fiscal year, which was prepared under International Financial Reporting Standards (IFRS) (see Exhibit 1). On the date of Thistle's incorporation three years earlier, $1.50, cumulative, convertible, non-callable preferred shares 2 were issued to a small group of the company's initial investors. Each preferred share was convertible into three common shares. On November 16,2020 , Thistle purchased a variety of new technological equipment from a local supplier. The equipment had a market value of $12,500. Given the strong relationship between Thistle's management team and the supplier, the equipment was acquired for a combination of $7,700 in cash and 300 common shares. Common shares were trading at $17.52 per share on the date of purchase. Thistle declared a $1.20 cash dividend to its common shareholders on December 1,2020, when the share price was $18.12 per share. The date of record was December 10,2020 , and the dividend was distributed to shareholders on December 14,2020 . Common shares were trading at $18.27 and $18.92 per share on the date of record and the date of distribution, respectively. By year's end, on December 31,2020 , common shares were being exchanged by investors at $19.14 per share. On January 11, 2021, a large shareholder, who solely owned 30 per cent of Thistle's outstanding preferred shares, decided to convert their preferred shares to common shares. Common shares were trading at $19.36 per share, and preferred shares were trading at $50.50 per share on the date of conversion. Following this substantial share conversion, and with some excess cash on the balance sheet, Thistle management decided to repurchase and retire 1,000 common shares on February 1, 2021. In doing so, Thistle incurred a brokerage fee of $150. On the date of the share repurchase, common shares were trading at $22.16 per share. Having taken notice of the increase in the common share price to $24.78 per share, Thistle decided to pursue a two-for-one stock split on April 1, 2021. In August 2021, Thistle decided to expand its services to several new provinces and states across North America. On August 10, 2021, to cover the regulatory costs associated with the expansion, Thistle issued 400 new preferred shares at $45 per share. Thistle declared a 3 per cent stock dividend to common shareholders on October 25, 2021. On this date, common shares were trading at $13.05 per share. The date of record of the dividend was October 29,2021 ; and it would be distributed on November 5, 2021. On October 31,2021 , at fiscal year-end, common shares were trading at $13.75 per share, and preferred shares were trading at $49.50 per share. REQUIRED Record, using a super-T, all opening balances and transactions relating to Thistle's equity financing activities for the fiscal year ended October 31,2021 . EXHIBIT 1: THISTLE LINKS INC.-PARTIAL STATEMENT OF FINANCIAL POSITION As at October 31, 2020 Thistle Links Inc. (Thistle) was a sports management company headquartered in Toronto, Ontario. The company had experienced gradual but consistent growth over the last number of years. In fiscal 2021 , a wide variety of occurrences related to Thistle's equity financing had to be accounted for. Thistle's accountant reviewed the company's records and information, beginning with the shareholders' equity section of the firm's Statement of Financial Position from the previous fiscal year, which was prepared under International Financial Reporting Standards (IFRS) (see Exhibit 1). On the date of Thistle's incorporation three years earlier, $1.50, cumulative, convertible, non-callable preferred shares 2 were issued to a small group of the company's initial investors. Each preferred share was convertible into three common shares. On November 16,2020 , Thistle purchased a variety of new technological equipment from a local supplier. The equipment had a market value of $12,500. Given the strong relationship between Thistle's management team and the supplier, the equipment was acquired for a combination of $7,700 in cash and 300 common shares. Common shares were trading at $17.52 per share on the date of purchase. Thistle declared a $1.20 cash dividend to its common shareholders on December 1,2020, when the share price was $18.12 per share. The date of record was December 10,2020 , and the dividend was distributed to shareholders on December 14,2020 . Common shares were trading at $18.27 and $18.92 per share on the date of record and the date of distribution, respectively. By year's end, on December 31,2020 , common shares were being exchanged by investors at $19.14 per share. On January 11, 2021, a large shareholder, who solely owned 30 per cent of Thistle's outstanding preferred shares, decided to convert their preferred shares to common shares. Common shares were trading at $19.36 per share, and preferred shares were trading at $50.50 per share on the date of conversion. Following this substantial share conversion, and with some excess cash on the balance sheet, Thistle management decided to repurchase and retire 1,000 common shares on February 1, 2021. In doing so, Thistle incurred a brokerage fee of $150. On the date of the share repurchase, common shares were trading at $22.16 per share. Having taken notice of the increase in the common share price to $24.78 per share, Thistle decided to pursue a two-for-one stock split on April 1, 2021. In August 2021, Thistle decided to expand its services to several new provinces and states across North America. On August 10, 2021, to cover the regulatory costs associated with the expansion, Thistle issued 400 new preferred shares at $45 per share. Thistle declared a 3 per cent stock dividend to common shareholders on October 25, 2021. On this date, common shares were trading at $13.05 per share. The date of record of the dividend was October 29,2021 ; and it would be distributed on November 5, 2021. On October 31,2021 , at fiscal year-end, common shares were trading at $13.75 per share, and preferred shares were trading at $49.50 per share. REQUIRED Record, using a super-T, all opening balances and transactions relating to Thistle's equity financing activities for the fiscal year ended October 31,2021 . EXHIBIT 1: THISTLE LINKS INC.-PARTIAL STATEMENT OF FINANCIAL POSITION As at October 31, 2020