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The equity section from the December 31, 2014 and 2015,

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The equity section from the December 31, 2014 and 2015, balance sheets of Westburne Corporation appeared as follows:


The following transactions occurred during 2015 (assume the retirements were the first ever recorded by Westburne):


Required
1. How many shares were outstanding on each of the cash dividend dates?
2. How much net income did the company earn during2015?

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