11B-3. (Similar to problem 11B-2) ASHLEY company has the following owners' equity section on its balance sheet: RETAINED EARN COM ST($2 par) APIC-COMMON 97000 52000 208000 a. On May 8 ASHLEY repurchases 1,000 shares on the open market for $24 per share. Show the appropriate entries. b. On June 17 ASHLEY resells 400 of these shares for $30 each. Show the appropriate entries. c. On July 5 ASHLEY resells 500 shares of its remaining treasury stock for $6 per share. Show the appropriate entries. d. On August 12 ASHLEY decides to retire shares in the treasury. The shares being retired were originally issued by the firm for $10 per share - $2 recorded in the common stock account and $8 recorded in the additional paid- in-capital account. Show the appropriate entries. Problem 11B-3 Name: TA Name: Lab Section Time: Cash Treasury Stock Add Paid-In Cap - Treas St Retained Earnings Common Stock (S par) Add Paid-In Capital - Com