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  3. the balance sheet of chase industries included the

The balance sheet of Chase Industries included the following shareholders' equity section at December 31,2018(...

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Accounting

The balance sheet of Chase Industries included the following shareholders' equity section at December 31,2018( $ in millions):
Common stock ( $1 par value, authorized 100M shares, issued and outstanding 90M shares) $90
Paid-in capital-excess of par
Retained earnings
Total shareholders' equity
540
280
$910
On January 5,2019. Chase purchased and retired 1 million shares for $10 million. Immediately after the purchase of the shares, the ballances in the paid-in capital-excess of par and retained earnings accounts are:
Multiple Choice
Pald-In capitalexcess of par. $540, Retailned earnings: $280
Pald-In capitalexcess of par $531. Retalned earnings: $280
Pald-In capitalexcess of par. $534. Retalned eamings: $278
Paild-In capital-excess of par. $534, Retalned eamings: $27
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