II PROBLEMS A. TREASURY SHARES (8 POINTS) Ayayka Corporation sold its 10,000 treasury shares, out from 15,000 shares, at P5/share. The total treasury shares were purchased by the corporation at a total amount of P60,000. After the sale, the corporation decided to retire the remaining treasury shares. All shares were originally issued at par value of P2/ share. 1. The gain or loss on sale from sale of treasury shares (indicate whether it's gain or loss) 2. A debit to retained earnings upon retirement of treasury shares. 3. The gain or loss on retirement of treasury shares (indicate whether it's gain or loss) 4. In the retirement of treasury shares, what are the accounts debited