On January 1, 2017, Conway Ltd. had the following shareholders’ equity accounts:
Common shares, unlimited number of shares authorized, 1.5 million issued – $1,650,000
Retained earnings- 550,000
It was also authorized to issue an unlimited number of $6 noncumulative preferred shares. During 2017, the corporation had the following transactions and events related to its shareholders’ equity:
Jan 2 Issued 100,000 preferred shares at $66 per share
March 31 Paid quarterly dividend to preferred shareholders
April 18 Issued 250,000 common shares at $1.30 each
June 30 Paid quarterly dividend to preferred shareholders
Sept 30 Paid quarterly dividend to preferred shareholders
Dec 31 Paid quarterly dividend to preferred shareholders
Dec 31 Profit
PayPal Gateway not configured
PayPal Gateway not configured