As of January 1, 2021, the equity section of Smokey The Cat Corp.’s balance sheet contained the following:

■ Smokey uses the single-transaction method to account for treasury shares.
■ Dividends were last paid in 2017. There were no arrears at that time.
■ On February 1, 2021, Smokey repurchased 1,000 common shares for $25,000 cash and held them as treasury shares.
■ On March 1, 2021, Smokey issued a 10% stock dividend on common shares. Smokey’s stock traded at $22 per share after the dividend.
■ On April 1, 2021, Smokey repurchased and cancelled 1,000 Class B preferred shares at $23 per share.
■ On June 1, 2021, Smokey declared and distributed a two-for-one stock split on the common shares.
■ On July 1, 2021, Smokey declared $25,000 in cash dividends, payable on August 1, 2021.
■ On August 1, 2021, Smokey paid the dividends declared on July 1.
■ On September 1, 2021, Smokey resold the common shares in treasury for $28 each.

Required:
a. Assume that Smokey follows the guidance in ASPE pertaining to accounting for equity transactions. Record the journal entries for the above transactions occurring in 2021.
b. How much was the dividend per share amount paid to the common shareholder?
c. Ignoring income for the year, what is the total capitalization of the company on August 2, 2021?

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Class A preferred stock, $1 cumulative dividend, 100,000 shares authorized, 1,000 issued and outstanding Class B preferred stock, $2 cumulative dividend, 100,000 shares authorized, 2,000 issued and outstanding Common stock, no par, unlimited shares authorized, 10,000 issued and outstanding Contributed surplus-from repurchase and cancellation of common shares Contributed surplus-from repurchase and cancellation of Class A preferred shares Contributed surplus-from repurchase and cancellation of Class B preferred shares Retained earnings Total shareholders' equity $ 10,000 40,000 200,000 5,000 5,000 5,000 135,000 $400,000