Sarasota Construction Ltd$.$ prepares its reports using IFRS. The following information relates to its shareholders' equity on January $1,$

$2023,$ the first day of its fiscal year.

$$0\mathrm{.}80-$noncumulative preferred shares, unlimited number of shares authorized, $100,000$ shares issued

Common shares, unlimited number of shares authorized, $1,190,000$ shares issued

Contributed surplus $($repurchase of common shares$)$

Retained earnings

Accumulated other comprehensive income

During the year, there were the following transactions related to shares.

On May $15,2023,$ Sarasota purchased equipment in exchange for $92,000$ common shares with a market value of

$$3\mathrm{.}15$ per share. The fair value of the equipment was $$303,480.$

On June $1,2023,$ Sarasota's board of directors declared the semi$-$annual dividend to the preferred shareholders

of record on June $15,$ payable June $30.$

The semi$-$annual dividend to the preferred shareholders is paid on the appropriate date.

On September $16,2023,$ reacquired $46,000$ common shares for $$160,000$ cash.

On December $15,2023,$ Sarasota's board of directors declared the second semi$-$annual dividend to the preferred

shareholders and a $10\%$ stock dividend to the common shareholders for shareholders of record on December $31,$

$2023$ payable January $20,2024.$ The market price of the common shares at December $15,2023$ was $$4$ per share.

Reported comprehensive income of $$1,470,000$ for the year, consisting of $$1,470,000$ of profit and $$0$ other

comprehensive income.

$$1,100,000$

$3,593,800$

$15,200$

$7,330,000$

$(450,000)$

Prepare a schedule showing all transactions for common shares and the calculation of the awerage per share amount.$($Round

average cost to $2$ decimal ploces, eg$.$ $$52\mathrm{.}75.$

Journalize each of the transactions. $($List oll debite entries before credit entries. Credit account titles are automatically indented when the

amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the occcount titles and enter O for the amounts.

Record entries in the order displayed in the problem statement:$)$

Dec. $15,2023$

$($To record payment of dividend$)$