USE THE FOLLOWING INFORMATION FOR QUESTIONS #2-4: Before Repurchase Common Stock $ 200,000 Credit # of Shares 40,000 Par Value $ 5.00 APIC in Excess of Paris 1,000,000 Credit APIC Share Repurchas $ 10,000 Credit Retained Earnings $ 1,500,000 Credit $ 2,710,000 Common Shares are re $ 20.00 per share Common Shares reaca 16,000 *These shares are NOT retired Additional Facts: Common Shares reissu 16,000 Common Shares (sold) $ 18.00 per share 2. What is the journal entry booked when the common shares are repurchased? A. Debit Common Stock for $80,000, Debit APIC in Excess of Par Value for $400,000, Credit APIC - Share Repurchases for $160,000, and Credit Cash for $320,000 B. Debit Common Stock for $80,000, Debit APIC in Excess of Par Value for $240,000 and Credit Cash for $320,000 C. Debit Treasury Stock for $320,000 and Credit Cash for $320,000 D. Debit Treasury Stock for $240,000 and Credit Cash for $240,000 3. What is the ending balance in the APIC - Share Repurchases account after the reissuance? A. $218,000 Credit B. $0 Credit C. $10,000 Debit D. $138,000 Credit 4. What is the impact to Retained Earnings from the reissuance journal entry? A. $22,000 Debit B. $22,000 Credit C. $32,000 Debit