A14-7 Share Retirement: On 1 January 20XS, BC Ventures Corp. reported the following in shareholders' equity: $386,000 Preferred shares, no-par value: $0.70, cumulative; authorized, unlimited shares; issued, 80,000 shares 642,000 Common shares, no-par value; authorized, unlimited shares; issued 80,000 shares Contributed capital on retirement of common shares Retained earnings AOCI for foreign exchange gains on foreign subsidiary 14,000 1,250,000 38,000 During 20X5, certain shares were reacquired. In accordance with the regulations in BC Ventures inco legislation, all reacquired shares were retired. Transactions were as follows: 15 January Bought 7,000 preferred shares for $5.20 per share 12 February Bought 2,000 common shares for $11 per share 25 February Bought 4,000 preferred shares for $4.00 per share 26 April Bought 5,000 preferred shares for $6.00 per share