Asp Co$.$ was organized on January $2,$ Year $1,$ with $30,000$ authorized shares of $$10$ par common stock. During Year $1,$ the corporation had the following capital transactions:

January $5$ Issued $20,000$ shares at $$15$ per share.

July $14$ Purchased $5,000$ shares at $$17$ per share.

December $27$ Reissued the $5,000$ shares held in treasury at $$20$ per share.

Asp used the U$.$S$.$ GAAP par value method to record the purchase and reissuance of the treasury shares. In its December $31,$ Year $1,$ balance sheet, what amount should Asp report as additional paid$-$in capital and will there be any effect on his Retained Earnings?

$$100,000$ $$125,000$ $$140,000$ $$150,000$

Note:

Please provide detail explanation on each step of calculation. Do provide JE's as well.