8) On August 10 Mainline Corporation purchased for cash 2,000 of its own shares at $27 per share. The shares were immediately retired. The average stated value of the outstanding shares was $20 per share. Complete the entries below to record the purchase and retirement of the shares. DATE ACCOUNT TITLES AND EXPLANATION P.R. DEBIT CREDIT Aug. 10 Retired 2,000 common shares. 10 Restricted retained earnings equal to the cost of the retired shares