Sunland Corporation has the following shareholders’ equity on December 31, 2021:
Shareholders' equity
Share capital
$10 convertible preferred shares,
10,000 shares authorized, 4000 shares issued
$580000
Common shares, no par value,
200,000 shares authorized, 80000 shares issued
2000000
Total share capital
2580000
Retained earnings
464000
Total shareholders’ equity
$3044000
If one preferred share is convertible into 10 common shares, how many common shares are issued when 520 preferred shares are converted?
5200
5
520
52