The balance sheet of Bluesky Services included the following shareholders' equity section at December 31, 2017:

Common stock ($1 par value, authorized 60 million

shares, issued and outstanding 40 million shares) $ 40

Paid-in capital --- excess of par 200

Retained earnings 60

Total shareholders equity $300

On January 4, 2018, Bluesky purchased and retired 1 million shares for $8 million. Immediately after retirement of the shares, the balances in the paid-in capital excess of par and retained earnings accounts are:

		a) Paid-in capital --- excess of par: $200M; Retained earnings: $58M
		b) Paid-in capital --- excess of par: $198M; Retained earnings: $55M
		c) Paid-in capital --- excess of par: $193M; Retained earnings: $52M
		d) Paid-in capital --- excess of par: $195M; Retained earnings: $58M