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Donroy Corporation was authorized to issue unlimited preferred shares, $0.30, no-par value, and unlimited common shares, no-par value. During the first year, the following transactions occurred:80,000 common shares were sold for cash at $12 per share.Share issue costs of $18,200 were paid; this amount was treated as a reduction to retained earnings.4,000 preferred shares were sold for cash at $25 per share.8,000 common shares were reacquired and retired for $12.50 per share.Cash dividends of $10,000 were declared and paid. Indicate the split between common and preferred dividends.5,000 common shares and 500 preferred shares were given as payment for a small manufacturing facility that the company needed. This facility originally cost $90,000 and had a depreciated value on the books of the selling company of $45,000. The fair value of the facility was estimated to be $80,000.
Required:
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