The balance sheet of Collingwood International Inc. at December 31, 2013, presented the following shareholders' equity: Contributed

Question:

The of Collingwood International Inc. at December 31, 2013, presented the following shareholders' equity:
Contributed capital
Common shares, 2,000,000 shares authorized, 500,000 shares issued
and outstanding..........................................................$3,000,000
Retained earnings............................................................820,000
Total shareholders' equity..............................................$3,820,000
During 2014, Collingwood International Inc. completed the following selected transactions:
Mar. 29 Declared a 10 percent stock on the common shares. The market value of Collingwood International Inc. common shares was $5.00 per share.
The record date was April 29, with set for May 29.
May 29 Issued the stock shares.
Jul. 30 Repurchased 30,000 of the company's own common shares at $5.00 per share; average issue price was $5.91.
Oct. 4 Sold 20,000 common shares for $7.50 per share.
Dec. 27 Declared a $0.20 per share on the common shares outstanding. The date of record was January 17, 2015, and the payment date was January 31, 2015.
31 Closed the $650,000 net income to Retained Earnings.
Required
1. Record the transactions in the general journal.
2. Prepare the statement of shareholders' equity for the year ended December 31, 2014.
3. Calculate earnings per share at December 31, 2014.
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