The following transactions occurred during assume the retirements were the first ever recorded by Westburne:
Jan. A $ per share cash dividend was declared, and the date of record was five days later.
Mar. common shares were repurchased and retired at $ per share.
Apr. A $ per share cash dividend was declared, and the date of record was five days later.
July A $ per share cash dividend was declared, and the date of record was five days later.
July A share dividend was declared when the market value was $ per share.
Aug. The share dividend was issued.
Oct. A $ per share cash dividend was declared, and the date of record was five days later.
Required:
How many shares were outstanding on each of the cash dividend dates?
How much profit did the company earn during
