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On January 20X5. AlbaCore Ltd reported the following in shareholders' equity $2,295,000 Preferred shares, no per volue authorized, unlimited shares; issued, B5,000 shares Common shares, no par values authorized, unlimited sharest issued 570,000 shares Contributed capital on retirement of preferred shares Retained earnings 7,410,000 24,000 >,350,000 The company acquired and retired shares in the following sequence during 20X6. 1. Retired 17,000 common shares of $17 per share. 2 Retired 8,500 common shares at $11 per share. 3. Retired 7,500 preferred shares of $32 per share 4. Retired 6,000 preferred shares at $24 per share. Required: 1. Prepare journal entries for the share retirement transactions. Of no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transactionat Journal entry worksheet mprehensive Assessment Seved Record entry Clear entry View general journal 2. Calculate the balonces in each equity account, after the effects of the transactions in requirement1 Preferred shares Common shares Contributed capital on retirement of preferred shares Contributed capital on retirement of common shares Retained earnings