13-3B Dividends, share dividend, share split, statement of changes in equity LO1,5 Problem CHECK FIGURE: 2. Dec. 31, 2017 Retained earnings $1,565,600 The equity accounts for Kalimantan Corp. showed the following balances on December 31, 2016. Preferred shares, $2 lative, unlimited shares authorized . Common shares, unlimited shares authorized, 100,000 shares issued and outstanding. Retained earnings.. 640,000 864,000 The company completed these transactions during 2017: Issued 20,000 common shares at $9.60 cash per share. The directors declared a 10% share dividend to the January 30 shareholders of record, distributable on February 15. The market price of the shares on January 15 was $q.80. Distributed the share dividend. The directors declared a $1.20 per share cash dividend payable on March 31 to the March 15 shareholders of record Paid the dividend declared on March 2. Jan. 10 15 Feb. 15 2 Mar. 31 Apr. 10 The directors announced a 3:1 share split to the April 20 shareholders of record. The shares were trading just prior to the announcement at $10.00 per share. Issued 12,000 preferred shares at $20.00 per share. Nov. Dec. 11 1 15 31 31 The board of directors declared total dividends of $182,400 payable December 15, 2017. Paid the dividends declared on December 1. Closed the $1,160,000 credit balance in the Profit Summary account. Closed the Cash Dividends account