Dynasty Corporation had stockholders' equity on January 1 as follows: Common Stock, $5 par value, 1,000,000 shares authorized, 400,000 shares issued; Paid-in Capital in Excess of Par Value, Common Stock, $800,000; Retained Earnings, $3,600,000. Prepare journal entries to record the following retirement transactions: On June 1, Dynasty repurchased and retire 5,000 shares for $4.00 each. On September 30, Dynasty repurchased and retire 1,000 shares for $9.00 each. What is the balance in the APIC Retirement account after the September purchase? $__ Answer the following related to retired stock. Retiring stock reduces the number of __________ stocks Retired stock is the same as __________ and __________ stock When stocks are purchased and retired common stock and APIC-C/S accounts related to the shares are _________________. If the purchase price exceeds the net amount removed from all capital accounts, the excess is debited first to _____________ (not below zero) then to ______________. If the purchase price exceeds the net amount removed from all capital accounts, the excess is ___________________________. A companys __________ and ____________ are always reduced by the amount paid for the retiring stock. Prepare the following formulas: Basic earnings per share (EPS) = Price Earnings ratio (PE) = Dividend yield = Define Preferred stock preferences: Cumulative dividend Noncumulative dividend Callable Convertible Nonparticipating dividend Participating dividend