3 Shareholder's Equity 1. (16 points) The balance sheet of Thyme Co. on Dec. 31, 2021 included the following: Common stock, 10 million shares outstanding at $3 par $ 30,000,000 Paid-in capital excess of par Paid-in capital-share repurchase Retained earnings Record the following transactions. 100,000,000 2,000,000 115,000,000 March 17: Reacquired 2 million shares at $20. Assume that Thyme retires shares it reacquires (restores their status to that of authorized but unissued shares). May 20: Sold 80,000 shares of common stocks and 4,000 shares of $100 par preferred stocks for a total of $3,000,000. The market value of the common stock is $15 per share