Question: please solve it before 10 min if possible please Waterway Corporation has the following shareholders' equity on December 31, 2021: $572000 Shareholders' equity Share capital

 please solve it before 10 min if possible please Waterway Corporation

please solve it before 10 min if possible please

Waterway Corporation has the following shareholders' equity on December 31, 2021: $572000 Shareholders' equity Share capital $10 convertible preferred shares, 10,000 shares authorized, 4900 shares issued Common shares 200,000 shares authorized, 94000 shares issued Total share capital Retained earnings Total shareholders' equity 1880000 2452000 449000 $2901000 If 10300 common shares were reacquired for $22 per share the journal entry to record the transaction would O credit Contributed Surplus-Reacquisition of Shares for $20600 credit Retained Earnings for $20600. debit Common Shares for $206000, credit Common Shares for $226600

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