[37] On December 31, 2018, VOF reported 50,000 no par value common shares, issued and outstanding; Retained earnings of $ 325,000; and Contributed Surplus - Common Shares Repurchased, $43,000. All 50,000 shares had been issued each at $4.00 per share. On March 1, 2019, it issued 60,000 additional common shares at $6.50 each and on August 1, it further issued another 20,000 common shares at $7.00 each. On December 1, 2019, 17,000 shares were reacquired at $ 7.00 and cancelled. The journal entry on December 1, 2019, to record this transaction would be Select one: a. DR Common Stock Capital, $68,000; DR Loss on Treasury Shares, $51,000; CR Cash $119,000 O b. DR Common Stock Capital, $119,000; CR Cash, $119,000 C. DR Common Stock Capital, $95,462; DR Contributed Surplus - Common Shares Repurchased, $23,538; CR Cash, $119,000 O d. DR Common Stock Capital, $68,000; DR Retained Earnings, $51,000; CR Cash $119,000 e. None of the above entries. [38] On December 31, 2018, VOF reported as follows: Common Share Capital, 90,000 shares issues and outstanding $446,400 Contributed Surplus - Common Shares Repurchased $ 23,000 Retained Earnings $124,000 On March 1, 2019, bond holders converted 200 bonds with an amortized cost of $810 each, for 27,000 common shares. There was no contributed surplus - bond conversion. The market value of the shares on that day was $5.80 per share. On July 15, VOF declared a 20% stock dividend. The market price of each share was $5.50 ex-dividend. On October 1, the company acquired 17,000 common shares at a price of $7.10 and cancelled them. Net earnings were zero in 2019. On December 31, 2019, VOF would report the three accounts as follows: Select one: O a. Common Share Capital, $647,850; Contributed Surplus - Common Shares Repurchased, $23,000; Retained Earnings, $87,150 O b. Common Share Capital, $642,450; Contributed Surplus - Common Shares Repurchased, $0; Retained Earnings, $110,150 O c. Common Share Capital, $616,400; Contributed Surplus - Common Shares Repurchased, $23,000; Retained Earnings, $3,300 O d. Common Share Capital, $616,400; Contributed Surplus - Common Shares Repurchased, $23,000; Retained Earnings, $124,000 e. Common Share Capital, $647,850; Contributed Surplus - Common Shares Repurchased, $0; Retained Earnings, $115,550