On 1 January 20X5, AlbaCore Ltd. reported the following in shareholders equity:

Preferred shares, no-par value; authorized, unlimited shares; issued, 105,000 shares	$	3,150,000
Common shares, no-par value; authorized, unlimited shares; issued, 600,000 shares		9,600,000
Contributed capital on retirement of preferred shares		32,000
Retained earnings		3,500,000

The company acquired and retired shares in the following sequence during 20X5:

1. Retired 20,000 common shares at $20 per share.
2. Retired 10,000 common shares at $14 per share.
3. Retired 9,000 preferred shares at $35 per share.
4. Retired 7,500 preferred shares at $27 per share.

Required: 1. Prepare journal entries for the share retirement 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.

prefered share

common shares

contributed capital on retirement of perferred share

contributed capital on retirement of common share

retained earnings