The equity sections from the December 31, 2013 and 2014, balance sheets of Synergy Acquisition Corporation appeared as follows:

The following occurred during 2014:

Required
1. How many shares were outstanding on each of the cash dividend dates?
2. How much net income did the company earn during2014?

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2014 2013 Contributed capital: Common shares, unlimited shares authorized, 18,900 and 8,500 shares issued and outstanding, respectively.. Retained earnings.. Total equit $268,920 $240,000 480,000 162,000 $402,000 Feb. 15 A S0.48 per share cash dividend was declared, and the date of record was five days later. 500 common shares were issued at $27.60 per share. Mar. 2 May 15 A 0.48 per share cash dividend was declared, and the date of record was Aug. 15 A 2:1 share split was declared and distributed to shareholders of record five Oct. 4 A 5% share dividend was declared when the market value was $16.80 per five days later. days later. share. The dividend shares were issued. A $0.48 per share cash dividend was declared, and the date of record was five days later. 20 15 Nov.