On March 1, 2011, a corporation had an IPO and issued 10,000 shares for $250,000. On August 2, 2013, the corporation repurchased 1,500 of those shares when the market price was $22 and cancelled them immediately. They will credit cash for $33,000, and will also credit which of the following?

Answers:	A. Contributed Surplus $4,500
B. Gain on repurchase $4,500
C. Common Shares $4,500
D. Retained Earnings $4,500

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