Whispering Winds Limited reported profit of $455,676 for its November 30, 2024, year end. Cash dividends of $61,900 on the
common shares and $63,900 on the noncumulative preferred shares were declared and paid during the year. The following
information is available regarding Whispering Winds's common shares:
Dec. 1, 2023
The opening number of common shares was 55,600.
Feb. 28, 2024
Sold 9,600 common shares for $230,400 cash.
May 31, 2024
Reacquired 4,800 common shares for $105.600 cash.
Nov. 1, 2024
Issued 14,400 common shares in exchange for land with a fair value of $270,000.
(a)
Your answer is incorrect.
Calculate the profit available to common shareholders.
Profit available to common shareholders
$
65200