2 eBook The equity section from the December 31, 2023 balance sheet of Kentucky Corporation appeared as follows: Contributed capital: Common shares, 51,600 shares authorized; 23,880 and 21,700 shares issued and outstanding, respectively. Retained earnings Required: 1. How many shares were outstanding on each of the cash dividend dates? Outstanding shares The following transactions occurred during 2024 (assume the retirements were the first ever recorded by Kentucky): Jan. 5 A $1.50 per share cash dividend was declared, and the date of record was five days later. Mar. 20 1,800 common shares were repurchased and retired at $21.70 per share. Apr. 5 A $1.10 per share cash dividend was declared, and the date of record was five days later. July 5 A $2.00 per share cash dividend was declared, and the date of record was five days later. July 31 A 20.00% share dividend was declared when the market value was $40.00 per share. Aug. 14 The share dividend was issued. Oct. 5 A $1.90 per share cash dividend was declared, and the date of record was five days later. Jan. 5 Apr. 5 July 5 2024 Oct. 5 2023 $591,030 $470,890 531,900 615,500

The equity section from the December 31,2023 balance sheet of Kentucky Corporation appeared as follows: The following tansactions occurred during 2024 (assume the retirements were the first ever recorded by Kentucky): Jan. 5 A $1.50 per share cash dividend was declared, and the date of record was five days later. Mar. 201,890 common shares were repurchased and retired at $21.70 per share. Agr. 5 A'\$1.10 per share cash Alvidend was declared, and the date of record was five days later. July 5 A \$2.00 per share cash dividend was declared, and the date of record was five days later. July 31 A 20.008 share dividend was declared when the narket value was 540.00 per share. Aug. 14 The share dividend was issued. oct. 5 A $1.90 per share cash dividend was declared, and the date of record was five days later. Required: 1. How many shares were outstanding on each of the cash dividend dates