6. Cyan Corp. issued 20,000 shares of P5 par ordinary share at P10 per share. On December 31, year 1. Cyan's retained earnings were P300,000. In March year 2. Cyan reacquired 5,000 shares of its ordinary share at P20 per share. In June year 2. Cyan sold 1,000 of these shares to its corporate officers for P25 per share. Cyan uses the cost method to record treasury stock. Net income for the year ended December 31, year 2, was P60.000. At December 31, year 2. what amount should Cyan report as retained earnings? P360,000 b. P365,000 C. P375,000 d. P380,000