At the end of 20X8, Minnow Reserves Corp. reported the following in shareholders equity: Preferred shares, no-par value; authorized, unlimited shares; issued, 65,000 shares $ 1,755,000 Common shares, no-par value; authorized, unlimited shares; issued, 1,350,000 shares, outstanding, 1,300,000 shares 2,700,000 Contributed capital on treasury stock transactions 26,000 Retained earnings 2,350,000 Treasury stock, 44,000 common shares (734,000 ) The company had treasury stock transactions in the following sequence during 20X9: Purchased 74,000 common shares as treasury stock at $14 per share. Reissued 50,000 treasury shares at $16 per share. Reissued 47,500 treasury shares at $7 per share. Required: 1. Prepare journal entries for the treasury stock transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 2. Calculate the balances in each equity account, after the effects of the transactions in requirement 1.