During its first year of operations, Cupola Fan Corporation issued 36,000 of $1 par Class B shares for $415,000 on June 30, 2021. Share issue costs were $2,100. One year from the issue date (July 1, 2022), the corporation retired 10% of the shares for $42,500. Required: 1. to 4. Prepare the journal entries to record the issuance of the shares, the declaration of a $2.60 per share dividend on December 1, 2021, the payment of the dividend on December 31, 2021 and the retirement of the shares.