The following selected account balances are taken from the financial statements of Martinez Inc. at its calendar year end prepared using IFRS:

2017 2015 Preferred shares classified as Equity $ 150, 000 \\$ 150, 000 Common Shares : 5, 000 Shares in 2017, 10, 000 shares in 2015 143, 400 150, BOD Contributed surplus - reacquisition of common Shares 3, 200 - 0 - Cash dividends - preferred 5, 450 5, 450 Stock dividends - common 12, 400 - 0 - Retained earnings ( balance after closing Entries*) 312, 000 233, 000 At December 31 , 2017 , the following information is available* 1 . Martinez Inc . repurchased 2, 000 common Shares during 2017 . The repurchased Shares had a weighted average cost Of $ 34, 1010 . 2 . During 2017 , 1, 000 common Shares were issued as a stock dividend . 3. Martinez Inc . Chooses to classify dividends paid as financing activities