Grouper Limited has 56,000 common shares outstanding, with an average issue price per share of $8. On August 1, 2017, the company reacquired and cancelled 690 shares at $41 per share. There was contributed surplus of $0.25 per share at the time of the reacquisition (total $14,000), which arose from net excess of proceeds over cost on a previous cancellation of common shares. Prepare the journal entry to record this transaction if Grouper prepares financial statements in accordance with ASPE. (4)