In 2022, Wanda Inc. decided NOT to pay any dividends. The shareholder equity section of balance...

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In 2022, Wanda Inc. decided NOT to pay any dividends. The shareholder equity section of balance sheet as at December 31, 2022 included the following: Common shares, 38,000 shares outstanding Contributed surplus $2,280,000 30,000 Preferred shares, cumulative, $2.6, 6,000 shares outstanding $600,000 Retained earnings Accumulated other comprehensive loss $5,100,000 $13,000 Additional information regarding Wanda Inc. during 2023 was made available: a. January 1: Paid $528,000 cash to repurchase and cancel 8,000 common shares. b. March 7: Declared and paid cash dividends at a total of $51,000. c. August 14: Declared and distributed 5% stock dividends when the market was trading at $72 per share. d. December 31: The 2023 net income was $592,000. In 2022, Wanda Inc. decided NOT to pay any dividends. The shareholder equity section of balance sheet as at December 31, 2022 included the following: Common shares, 38,000 shares outstanding Contributed surplus $2,280,000 30,000 Preferred shares, cumulative, $2.6, 6,000 shares outstanding $600,000 Retained earnings Accumulated other comprehensive loss $5,100,000 $13,000 Additional information regarding Wanda Inc. during 2023 was made available: a. January 1: Paid $528,000 cash to repurchase and cancel 8,000 common shares. b. March 7: Declared and paid cash dividends at a total of $51,000. c. August 14: Declared and distributed 5% stock dividends when the market was trading at $72 per share. d. December 31: The 2023 net income was $592,000.