13 The shareholders' equity section of the balance sheet of TNL Systems Inc. included the following accounts at December 31, 2017: ($ in millions) Shareholders' Equity Common stock, 280 million shares at $1 par Paid-in capital-excess of par Paid-in capital-share repurchase Retained earnings 280 1,680 ts 1,800 Skipped Required 1. During 2018, TNL Systems reacquired shares of its common stock and later sold shares in two separate transactions. Prepare the entries for both the purchase and subsequent resale of the shares assuming the shares are (a) retired and (b) viewed as treasury stock. ok a. On February 5, 2018, TNL Systems purchased 8 million shares at $10 per share. b. On July 9, 2018, the corporation sold 2 million shares at $12 per share. c. On November 14, 2020, the corporation sold 2 million shares at $7 per share. hare Print ferences 2. Prepare the shareholders' equity section of TNL Systems' balance sheet at December 31, 2020, comparing the two approaches. Assume all net income earned in 2018-2020 was distributed to shareholders as cash dividends. Complete this question by entering your answers in the tabs below. Req 1B Req 2 Req 1A Prepare the entries for both the purchase and subsequent resale for the above transactions of the shares assuming the shares are retired. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) View transaction list 13 Complete this question by entering your answers in the tabs below. 10 Req 1B Req 2 Req 1A points Prepare the entries for both the purchase and subsequent resale for the above transactions of the shares assuming the shares are retired. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in Skipped millions (i.e., 10,000,000 should be entered as 10).) View transaction list eBook Journal entry worksheet Print 1 2 3 References Record the purchase of 8 million shares at $10 per share assuming the shares are retired. Note: Enter debits before credits. General Journal Date Debit Credit February 05, 2018 13 Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 2 nts Prepare the entries for both the purchase and subsequent resale for the above transactions of the shares assuming the shares are retired. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Skipped View transaction list eBook Journal entry worksheet Print 2 3 1 eferences Record the sale of 2 million shares at $12 per share. Note: Enter debits before credits. Debit Credit Date General Journal July 09, 2018 13 Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 2 ints Prepare the entries for both the purchase and subsequent resale for the above transactions of the shares assuming the shares are Skipped transaction/event, select "No journal entry required" in the first account field. Enter your answers in retired. (If no entry is required for millions (i.e., 10,000,000 should be entered as 10).) View transaction list eBook Journal entry worksheet Print 1 2 3 References Record the sale of 2 million shares at $7 per share. Note: Enter debits before credits. Date General Journal Debit Credit November 14, 2020 13 Complete this question by entering your answers in the tabs below. Req 1A Req 2 Req 1B ints Prepare the entries for both the purchase and subsequent resale for the above transactions of the shares assuming the shares are viewed as treasury stock. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Skipped View transaction list eBook Journal entry worksheet Print 1 2 3 References Record the purchase of million shares at $10 per share assuming the shares are viewed as treasury stock. Note: Enter debits before credits. Date General Journal Debit Credit February 05, 2018 Record entry Clear entru. View general iournal 13 Complete this question by entering your answers in the tabs below. Req 1A Req 1B Reg 2 ts Prepare the entries for both the purchase and subsequent resale for the above transactions of the shares assuming the shares are viewed as treasury stock. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Skipped View transaction list eBook Journal entry worksheet Print 3 1 2 eferences Record the sale of 2 million shares at $12 per share. Note: Enter debits before credits. General Journal Date Debit Credit July 09, 2018 13 Complete this question by entering your answers in the tabs below. Req 2 Req 1A Req 1B pints Prepare the entries for both the purchase and subsequent resale for the above transactions of the shares assuming the shares are Skipped viewed as treasury stock. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) View transaction list eBook Journal entry worksheet Print K 1 2 References Record the sale of 2 million shares at $7 per share. Note: Enter debits before credits. Date General Journal Debit Credit November 14, 2020 3 C. On November 14, 2020, the corporation sold 2 million shares at $/ per share. 2. Prepare the shareholders' equity section of TNL Systems' balance sheet at December 31, 2020, comparing the two approaches. Assume all net income earned in 2018-2020 was distributed to shareholders as cash dividends. Complete this question by entering your answers in the tabs below. ipped Req 1A Req 1B Req 2 Book Prepare the shareholders' equity section of TNL Systems' balance sheet at December 31, 2020, comparing the two approaches. Assume all net income earned in 2018-2020 was distributed to shareholders as cash dividends. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Print Shareholder's Equity $ in millions Retirement Treasury stock Paid-in capital: erences Total shareholders' equity 0 $ 0 Req 1B Rea 2