Problem 21-21 (AICPA Adapted) Probl Pack Company canceled 5,000 shares of P50 par value held in treasury at an average cost of P120 per share. Hanna at the Before recording the cancelation of the treasury shares, the entity had the following shareholders' equity: Share c Share p Retaine Share capital, 50,000 shares originally issued at P75 2,500,000 Share premium 1,250,000 During Retained earnings 1,000,000 Treasury shares, at cost 600,000 Ac What amount should be reported for the following after So cancelation of treasury shares? So Ne 1. Share capital 1. a. 2,250,000 b. 2,500,000 c. 1,900,000 d. 2,100,000 2. Share premium 2. W a. 1,250,000 b. 1,125,000 C. 900,000 d. 800,000 3. Retained earnings 3. W a. 1,000,000 b. 1,200,000 C. 775,000 d. 650,000