(1) Common stock 110,000 shares authorized (2) Treasury stock, 2,200 shares Required a. Identify which accounting method the company used in Option One to account for the reacquisition of common stock-the direct retirement method or the treasury stock method. Recreate the accounting entry to record the reacquisition of common stock. b. Identify which accounting method the company used in Option Two to account for the reacquisition of common stock-the direct retirement method or the treasury stock method. Recreate the accounting entry to record the reacquisition of common stock. c. Determine the shares issued and shares outstanding on December 31 under Option One. d. Determine the shares issued and shares outstanding on December 31 under Option Two