At the beginning of 20x1, the accounting records of Friends Corp. reported the following: Preferred shares, 6,000 shares outstanding, no-par Common shares, 180,000 shares outstanding, no-par Contributed capital on common share retirement Retained earnings $ 150,000 369,000 110,000 550,000 During the year, the company acquired and retired shares, while other shares were issued 15 March 24,000 common shares bought and retired at 56 per share 16 March 3,000 preferred shares bought and retired at 527 per share 20 May 5,000 common shares bought and retired at $1 per share 25 May 600 preferred shares bought and retired at $24 per share 30 May 10,000 common shares issued at $12.az per share 15 Nov. 4,000 common shares bought and retired at $14 per share Required: 1. Give Journal entiles 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 in View transaction list Journal entry worksheet Record retirement of common shares at $6 per share. Note: Enter debits before credits. Date General Journal Debit Credit 15 March 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