At the beginning of 20X1, the accounting records of Friends Corp. reported the following: Preferred shares, 7,500 shares outstanding, no-par Common shares, 181,400 shares outstanding, no-par Contributed capital on common share retirement Retained earnings $ 228,750 477,082 111,100 555,500 During the year, the company acquired and retired shares, while other shares were issued: 15 March 25,400 common shares bought and retired at $4 per share 16 March 4,300 preferred shares bought and retired at $32.90 per share 20 May 9,500 common shares bought and retired at $1 per share 25 May 1,900 preferred shares bought and retired at $18.30 per share 30 May 11,000 common shares issued at $10.30 per share 15 Nov. 5,100 common shares bought and retired at $30 per share Required: 1. Give journal entries to record each share retirement transaction. (Round intermediate calculations to 2 decimal places and Round your final answers to the nearest whole dollar. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 5 6 > Record retirement of common shares at $4 per share. Note: Enter debits before credits. Date General Journal Debit Credit 15 March Record entry Clear entry View general journal Required: 1. Give journal entries to record each share retirement transaction. (Round intermediate calculations to 2 decimal places and Round your final answers to the nearest whole dollar. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list X 1 Record retirement of common shares at $4 per share. > 2 Record retirement of preferred shares at $32.90 per share. 3 Record retirement of common shares at $1 per share. 4 Record retirement of preferred shares at $18.30 per share. Credit 5 Record issue of common shares. 6 Record retirement of common shares at $30 per share. Note : = journal entry has been entered Record entry Clear entry View general journal 2. Calculate the closing balance in each account in shareholders' equity. (Round intermediate calculations to 2 decimal places. Round your final answers to the nearest whole dollar.) Preferred shares Common shares Contributed capital on share retirement: Common Preferred Retained earnings