b) On August 1, 2018 the company reissued 15,000 shares of its treasury shares ordinary shares at P15. The company recorded the issuance as a debit to cash at the cash consideration received, credit to treasury stock at the cost of the reissued stocks. Any difference was charged to other income/expense account. All treasury shares were reacquired as one bloc in 2017. c) The company retired 20,000 shares of its ordinary shares from the treasury on September 1, 2018. The company recorded the retirement as a debit to ordinary shares at par value and credit to treasury stock for the total cost of the treasury stocks being retired. Any difference was debited/credited to the retained earnings account. All ordinary shares, with the exception of those issued on June 30 of the current year were issued during the company's initial public offering. d) Subscribed preference shares and subscription receivable is in relation to the subscription of Kalinga Inc. on January 1, 2018 of the company's 40,000 shares of preferred shares at P33 per share. Kalinga defaulted on its remaining balance on October 1, 2018, the company then offered the delinquent shares on a public auction on December 31, 2018, where Apayo Corporation won as the highest bidder since the company is willing to pay the offer price for the least number of shares. The company incurred auction expenses amounting to P50,000, which it had paid on December 30, 2018 and charged to operating expense. Interest related to the default amounted to P25,000. Settlement was done on December 31 7018 All the foregoing transactions were recorded on the subsequent period