Problem on peter corporation balance sheet

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Reference no: EM131791941

Question: The stockholders' equity section of Peter Corporation's balance sheet at December 31, 2014, follows:

On January 2, 2015, Peter purchased and retired 100,000 shares of its stock for $1,800,000.

Required: What is the balance in the Additional paid-in capital and Retained earnings accounts immediately after the shares were retired?

Reference no: EM131791941

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