Early in 20x3, Shifter, Inc. wrote put options for 1,000 shares of its common stock. Purchasers of the options can sell Shifter stock back to Shifter for $20 per share on 12/31/x3. The estimated fair value of each option is $2 at the time of sale. At 12/31/X3, the share price is $15 and the options are exercised. As a result, Shifter Recognizes a $3,000 loss. O Recognizes a $5,000 loss. Increases the treasury stock account $20,000 upon purchase. Decreases contributed capital $3,000