Comparative statements of shareholders equity for Anaconda International Corporation were reported as follows for the fiscal years ending December 31, 2016, 2017, and 2018.

ANACONDA INTERNATIONAL CORPORATION Statements of Shareholders' Equity For the Years Ended Dec. 31, 2016, 2017, and 2018 ($ in millions)
	Preferred Stock $10 par			Common Stock $1 par			Additional Paid-In Capital			Retained Earnings			Total Shareholders' Equity
Balance at January 1, 2016					85			680			1,948			2,713
Sale of preferred shares		30						930						960
Sale of common shares					7			56						63
Cash dividend, preferred											(3	)		(3	)
Cash dividend, common											(21	)		(21	)
Net income											380			380
Balance at December 31, 2016		30			92			1,666			2,304			4,092
Retirement of shares					(6	)		(48	)		(16	)		(70	)
Cash dividend, preferred											(3	)		(3	)
Cash dividend, common											(25	)		(25	)
3-for-2 split effected in the form of a dividend		15						(15	)
Net income											530			530
Balance at December 31, 2017		45			86			1,603			2,790			4,524
Common stock dividend					6			53			(59	)
Cash dividend, preferred											(3	)		(3	)
Cash dividend, common											(27	)		(27	)
Net income											572			572
Balance at December 31, 2018		45			92			1,656			3,273			5,066

Required:

1.

Infer from the statements the events and transactions that affected Anaconda International Corporations shareholders equity during 2016, 2017, and 2018. Prepare the journal entries that reflect those events and transactions. (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).)

1. Record sale of preferred stock. 2. Record sale of common stock. 3. Record declaration of cash dividend for preferred shares. 4. Record payment of cash dividend for preferred shares. 5. Record declaration of cash dividend for common shares. 6. Record payment of cash dividend for common shares. 7. Record transfer of net income to retained earnings. 8. Record the repurchase of shares for retirement. (Assume weighted average method). 9. Record declaration of cash dividend for preferred shares. 10. Record payment of cash dividend for preferred shares. 11. Record declaration of cash dividend for common shares 12. Record payment of cash dividend for common shares. 13. Record the stock split for preferred shares effected in the form of a dividend. 14. Record transfer of net income to retained earnings. 15. Record distribution of common stock dividend. 16. Record declaration of cash dividend for preferred shares. 17. Record payment of cash dividend for preferred shares. 18. Record declaration of cash dividend for common shares. 19. Record payment of cash dividend for common shares. 20. Record transfer of net income to retained earnings.

2.	Prepare the shareholders equity section of Anacondas comparative balance sheets at December 31, 2018 and 2017. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)