131.Oxford Inc. was authorized to issue 200,000 10 par value ordinary shares. As of December 31, 2017, the company had issued 88,000 shares at an average price of 22 per share. During 2017, the company felt that the shares were undervalued so it purchased 20,000 treasury shares at 18 per share. When the share price rebounded later in the year, the company sold 8,000 of the treasury for 25. Retained earnings was 829,000 at December 31, 2017. The balance in Treasury Shares at December 31, 2017 is

a. 180,000. b. 80,000. c. 216,000.

d. 360,000.

answer with the steps please