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@ PIS-29. Accounting tor contributed capital and retained earnings (LO. 13-3, L.O. 13-4) (Medium 20 minutes) As of January 1, 2019, the equity section of BC Marine Co.'s balance sheet contained the following: Common shares, 10,000,000 authorized, 2,000,000 issued and $5,000,000 outstanding Contributed surplusfrom repurchase and cancellation of common 150,000 shares Contributed surplusexpired options on common shares 200,000 Preferred shares, $2 cumulative dividend, 5,000,000 authorized, 50,000 1,050,000 issued and outstanding Retained earnings 2,4_. Total shareholders' equity $8,800,000