Exercise $18-10($Algo$)$ Retirement of shares $[$LO$18-5]$

Borner Communications' articles of incorporation authorizlad the issuance of $140$ million common shares. The transactions described below effected changes in Borner's outstanding shares. Prior to the transactions, Borner's shareholders' equity included the following:

$\backslash$table$[[$Shareholders$\text{'}$ Equity,$($$ in millions$)],[$Common stock, $120$ million shares at $$1$ par,$$120$