The balance sheet of FIFA Cup Company included the following shareholders' equity section at December 31, 2021:

	($ in millions)
Common stock ($1 par, authorized 200 million shares, issued and outstanding 180 million shares)		$	180
Paid-in capitalexcess of par			1,080
Retained earnings			560
Total shareholders equity		$	1,820

On January 5, 2022, FIFA purchased and retired 2 million shares for $18 million. Immediately after retirement of the shares, the balances in the paid-in capitalexcess of par and retained earnings accounts are:`

	Paid-in capitalexcess of par					Retained earnings
a.		$	1,068				$	556
b.		$	1,064				$	560
c.		$	1,080				$	560
d.		$	1,080				$	542

Multiple Choice

• Option C

• Option D

• Option A

• Option B