Ezekiel Company showed the following balances related to an issuance of ordinary share capital:

Ordinary Share Capital. P20 par, 200,000 shares                                P4,000,000

Ordinary Share Premium                                                                           1,000,000

The Company retired 2,000 shares of ordinary share capital.

Required:

1. Record the retirement of the 2,000 ordinary shares under each of the following assumptions:

a. The retirement price is P15

b. The retirement price is P30

2. State the number of capital shares issued and outstanding immediately after the retirement.