The equity section from the December 31, 2023 balance sheet of Kentucky Corporation appeared as follows:

2024 2023 Contributed capital: Common shares, 51,000 shares authorized; 27,600 and 25,000 shares issued and outstanding, respectively.$837,200 $735,000 Retained earnings 591,000 554,300

The following transactions occurred during 2024 (assume the retirements were the first ever recorded by Kentucky):

Jan. 5 A $1.60 per share cash dividend was declared, and the date of record was five days later. Mar. 20 2,000 common shares were repurchased and retired at $29.40 per share. Apr. 5 A $1.00 per share cash dividend was declared, and the date of record was five days later. July 5 A $1.60 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 $35.00 per share. Aug. 14 The share dividend was issued. Oct. 5 A $1.80 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?

2. How much profit did the company earn during 2024?

3. Prepare the statement of changes in equity for the year ended December 31, 2024. (Deductible values should be indicated by a minus sign.)