10. (4 points) Todd's 12-31-14 balance sheet reported: Common stock outstanding: 600,000 shares, par $1 per share $600,000 Paid-in capital in excess of par value 2,400,000 Retained earnings 30,000,000 The following transactions occurred this year: .. During February 2015, Todd purchased 100,000 shares of its common stock and paid $40 per share. This was Todd's first purchase of treasury stock. b. During April 2015, Todd sold 60,000 of the treasury shares for $45 per share. c. During May 2015, Todd purchased 50,000 shares of its common stock and paid $44 per share. d. During June 2015, Todd sold 70,000 of the treasury shares for $41 per share. c. During September 2015, Todd purchased 40,000 shares of its common stock and paid $39 per share. 1. During December 2015, Todd sold 15,000 of the treasury shares for $47 per share. Assume Todd uses a FIFO method to account for cost of treasury shares it reissues. Prepare the entry for each of these transactions under the cost method of accounting for treasury stock