XYZ Inc has 55,570 common shares outstanding, with an average issue price of $8.54 per share. On August 1, the company reacquired and cancelled 3,991 shares at $41.17 per share. There was a contributed surplus of $44,290 (total credit balance for all outstanding shares) at the time of the reacquisition, which arose from net excess of proceeds over cost on a previous cancellation of common shares. What will be the absolute value of the change in the Retained Earnings balance due to the reacquisition of the shares on August 1 if the company prepares financial statements in accordance with ASPE?

Question 13 options:

	$83,788
	$85,936
	$88,085
	$90,233
	$92,382