On December 31, 2020, Nakoma Inc. had the following account balances. Preferred stock, S100 par, 5,000 shares authorized Paid-in capital in excess of par - Preferred stock Common stock, $1 par, 250,000 shares authorized Paid-in capital in excess of par-Common stock Retained earnings Accumulated other comprehensive income Treasury stock, 1.200 shares Noncontrolling interests $30,000 Cr. 80,000 Cr. 35,000 Cr. 480,000 Cr. 360,000 Cr. 48,000 Cr. 65,000 Dr. 5.000 Cr. Average cost per share of treasury shares is $14.71 per share. O $13.71 per share. Show Question 4 3 pts At December 31, 2020, UMC's balance sheet reported the following shareholders' equity: ($ in millions) Common stock, $1 par $200 Paid-in capital in excess of par 800 956 Retained earnings (25) Treasury stock (4 million shares at cost) $1.931 Total shareholders' equity The Company decided to retire the 4 million treasury shares on December 31, 2020. The effect of the retirement of treasury shares on retained earnings is that Retained earnings decreases. Retained earnings increases