The authorized share capital of the Alfred Cake Company is 136,000 shares. Currently 21,500 shares are issued and outstanding. The equity is currently shown in the companys books as follows: Common stock $ 75,000 Retained earnings 31,500 Common equity 106,500 What would happen to the companys books if instead it bought back 1,030 shares at $5.51 per share? The average issue price of these shares was $5.51. (Round your answers to 1 decimal place.)

Common Shares $

Retained Earnings $

Net Common Equity $