Reference no: EM132603875

Question - Sandhill Technologies Inc. reported the following information related to its shareholders' equity on January 1:

Common shares, 1,200,000 authorized, 600,000 shares issued: $1,800,000

Contributed surplus-reacquisition of common shares: $14,160

Retained earnings: $714,000

During the year, the following transactions related to common shares occurred in the order listed:

1. Issued 38,000 shares at $4.00 per share.

2. Reacquired 10,800 shares at $3.00 per share.

3. Issued 4,900 shares at $4.60 per share.

4. Reacquired 18,900 shares at $4 per share.

5. Reacquired 74,300 shares at $3 per share.

If the number of shares authorized = 1,200,000 and the number of shares issued = 538,900. Determine the ending balances in each of the following accounts: Common Shares, Contributed Surplus-Reacquisition of Common Shares, and Retained Earnings.