A company has the following equity structure after inception, in the same order:

Authorised shares, $10 par, 90,000 shares

January - Preference shares - authorized and issued, $2 par, 55,000 shares issued for @3 each in cash

Revenues earned, $2,000,000

Expenses incurred, $700,000

January - Issued, 40,000 shares for $18 each - for cash

February - Issued, 20,000 shares in exchange for land, value being $300,000
February - Incurred issue expenses for shares, $20,000

March - Bought back odinar shares, 12,000 shares for $25 each

April - Re-issued treasury shares, 5000 shares for @28 each cash
May - Re-issued trewasury shares, 7,000 shares for $20 each

June 5 - Dividends announced, $200,000

July - Stock-split, 3 for 1 for ordinary shares

August - Share dividends 10%, when the share price was @40