The stockholders equity section of Peter Corporation s

balance sheet at
The stockholders equity section of Peter Corporation s balance sheet at

The stockholders' equity section of Peter Corporation's balance sheet at December 31, 2017,
follows:
Common stock ($10 par value); authorized.............................1,000,000
shares, issued and outstanding 900,000 shares.......................$ 9,000,000
Additional paid-in capital.................................................2,700,000
Retained earnings..........................................................1,300,000
Total stockholders' equity.............................................$13,000,000
On January 2, 2018, 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?

The stockholders equity section of Peter Corporation s balance sheet at

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