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Hiroole Corporation, a publicly traded company, started the year ended November 30,2024, with...

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Accounting

Hiroole Corporation, a publicly traded company, started the year ended November 30,2024, with 190,000 common shares and no
preferred shares issued. The following changes in share capital occurred during the year:
Feb. 28 Issued 45,720 common shares for $808,000.
Sept. 4 Issued 64,800$1 noncumulative preferred shares for $1.6 million.
Nov. 1 Issued 19,800 common shares in exchange for land. The shares were trading for $21 on this date and the fair
value of the land was $399,800.
30 Reported net income of $976,300.
30 Declared the quarterly cash dividend to the preferred shareholders of record on December 14, payable on
December 31.
(a)
Calculate the income available for the common shareholders.
Income available to common shareholders
$
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