The Precision Company of Canada Inc. began 2001 with the following balances in its share- holders' equity accounts: Contributed capital: Common shares, 500,000 shares authorized; 200,000 shares issued and outstanding Retained earnings .... Total shareholders' equity ............. $3,000,000 5,000,000 $8,000,000 All of the outstanding shares were issued for $15. Required Prepare journal entries to account for the following transactions during 2001: Feb. 15 Apr. 15 May 1 Repurchased and retired 20,000 common shares at $15 per share. Repurchased and retired 15,000 common shares at $13 per share. Repurchased and retired 5,000 common shares at $19 per share