Current Attempt in Progress

Pharoah Technologies Inc. reported the following information related to its shareholders' equity on January $1$:

During the year, the following transactions related to common shares occurred in the order listed:

Issued $40,000$ shares at $$4\mathrm{.}20$ per share.

Reacquired $10,000$ shares at $$3\mathrm{.}00$ per share.

Issued $5,000$ shares at $$4\mathrm{.}65$ per share.

Reacquired $19,000$ shares at $$4$ per share.

Reacquired $75,000$ shares at $$3$ per share.

$($a$)$ Calculate the number of shares authorized and issued at the end of the year.

Number of shares authorized

Number of shares issued

$($b$)$ Determine the ending balances in each of the following accounts: Common Shares, Contributed Surplus$-$Reacquisition of

Common Shares, and Retained Earnings. $($Round the average issue price per share to $2$ decimal places, e$.$g$.5\mathrm{.}27$ and final

answers to $0$ decimal places, e$.$g$.5,276.)$

Common shares

Contributed surplus$-$reacquisition of common shares

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