Timpano Communications Inc. reported the following shareholder's equity information on December 31, 2019

Contributed capital

Preferred shares, 2.00 cumulative ( 1 year in arrears), Liquidation price of $20, 100,000 shares authorized, 15,000 shares issued, and an outstanding 240,000

Common shares, unlimited number of shares authorized 25,000 shares issued and outstanding 200,000

Total contributed capital. 440,000

Retained Earnings 512,000

Total Shareholder equity 952,000

The following transactions took place during the 2020

Jan 14 Declared a 90,000 cash dividend, payable on March 1 to the shareholders of record on February 1. Indicate the amount payable to each class of shareholder

February 28 Issued 10,000 common shares for $6.00 per share

March 1 Paid the cash dividend declared on Jan 1

April 1 Declared a 10 percent stock dividend on the common shares distributed on May 2 to the shareholders of record on April 15. The market value of the shares was $6.40 per share

May 2 Distributed the stock dividend declared on Aril 1

July 4 Repurchased 3,000 of the company's own common shares at $7.00 per share

Sept 2 Issued 2,500 common shares for 7.50 per share

Nov 2. Split the common shares 2 for 1

Dec 31 Reported net income of 150,000. Closed the Income summary account

Required

1. Record the Transactions in the general journal