The balance sheet of Augen Vision Ltd. at December 31, 2013, reported the following shareholders' equity:

Common shares, 200,000 shares authorized, 50,000 shares issued and outstanding $ 750,000

Retained earnings 250,000

Total shareholders' equity $1,000,000

During 2014, Augen Vision Ltd. completed the following selected transactions:

Apr. 29 Declared a 10-percent stock dividend on the common shares. The market value of Augen Vision Ltd.'s common shares was $15.00 per share. The record date was May 20, with distribution set for June 3.

Jun. 3 Issued the stock dividend shares.

Jul. 29 Repurchased 5,000 of the company's own common shares at $13.50 per share; average issue price was $14.91.

Nov. 1 Sold 1,000 common shares for $16.50 per share.

25 Declared a $0.25 per share dividend on the common shares outstanding.

The date of record was December 16, and the payment date was January 6, 2015.

Dec. 31 Closed the $105,000 credit balance of Income Summary to Retained Earnings.

Required

1. Record the transactions in the general journal.

2. Prepare a statement of shareholders' equity at December 31, 2014.

3. Calculate earnings per share at December 31, 2014. (Hint: Use issue dates in your calculations.)