Question 2 (7 marks) During 20X7, TD Ltd. repurchased 4,000 common shares and 2,000 preferred shares, respectively. Net income was Sl 00,000 in 20X7, and dividends declared, $40,000. The comparative equity accounts for 2DX6 and 2C)X7 are: Balances- December 31 Preterred Shares Common Shares Contributed capital-repurchase of shares Contributed capital-repurchase of common shares Retained earnings Reauired: s 20X7 s 360,000 24,000 o 270,000 20X6 460,000 $ 30,000 240,000 l) What was the original issue price of the common shares? The preferreds? (show your calculations) 2) What amount was paid for the common shares repurchased? The preferreds? (show your calculations)