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 540 retained earnings 280 total shareholders’ equity $910 on january 5, 2019, chase purchased and retired 1 million shares for $10 million. immediately after the purchase of the shares, the balances in the paid-in capital—excess of par and retained earnings accounts are:
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