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 parCommon Stock $1 parAdditional Paid-In CapitalRetained EarningsTotal Shareholders' Equity Balance at January 1, 2016 60 540 1,838 2,438 Sale of preferred shares 20 860 880 Sale of common shares 6 54 60 Cash dividend, preferred (2) (2) Cash dividend, common (16) (16) Net income 330 330 Balance at December 31, 2016 20 66 1,454 2,150 3,690 Retirement of shares (3) (27) (26) (56) Cash dividend, preferred (2) (2) Cash dividend, common (20) (20) 3-for-2 split effected in the form of a dividend 10 (10) Net income 480 480 Balance at December 31, 2017 30 63 1,417 2,582 4,092 Common stock dividend 8 77 (85) Cash dividend, preferred (2) (2) Cash dividend, common (22) (22) Net income 522 522 Balance at December 31, 2018 30 71 1,494 2,995 4,590 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).) 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).)