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Problem 18-3 (Algo) Reacqulred sharescomparison of retlred shares and treasury shares; flnanclal statement effects tL018-5] National Supptys shareholders equity included the following accounts at December 31.2023 Shareholders Equity stock, S million shares at par Paid-in capitalexcess of par Retained earnings Required: 3e,eea ,e 98, sea, eoe Treasu Retired Stock Prepare the entry for each of the transections given in the requirement above. Assume shares are treasury stock. Note: If no entry' is required transaction/event, select "NO journal entry required" in the first account field. Enter your answers in whole dollars and not in millions. Journal entry worksheet 1. National Supply reacquired shares of its common stock in two separate transactions and later sold shares. Prepare the entries for each of the transactions under each of two separate assumptions: the shares are (a) retired and (b) accounted for as treasury stock. February IS, 2e2a Reacquired 48e,ee shares at Sg per share. February I', 2ezs Reacquired 4Be,ee shares at Ss. se per share. reverber 9, 26326 Sold shares at $8 per share (assume cost). Z Prepare the shareholders' equity section of National Supply's balance sheet at December 31. 2026. assuming the shares are (a) retired and (b) accounted for as treasury stock. Net income $20 million in 2024. $22 million in 2025. and $24 million in 2026. No dividends were paid during the three-year period. Complete this question entering your in the tabs 2 3 Req Retiree Treasury Reg 2 Stock Prepare the entry for each of the transactions given in the requirement above. Assume shares are retired. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars and not in millions. Journal entry worksheet 2 3 Record the purchase of 480,000 shares at $9 per share on February 15, retirement. Note: Enter debits berore aedits. General Journal 15.2024 2024 Record the purchase of 4SO,OOO shares at $9 per share on February 15, 2024 that are accounted for as treasury stock. Nate: debits before aedits. February 15. 2024 Complete this question by entering your answers in the tabs below. 1 Tregu Reg 1 Retired Stock Prepare the shareholders' equity section of National Supply's balance sheet at December 31, 2026, assuming the shares are (a) retired ard (b) accounted for as treasury stock. Net income was 520 million in 2024, $22 million in 2025, and $24 million in 2026. No dividends were paid during the threeoear period. Note: Enter your answers in whole dollars and not in millions. Show Psidin TotI shareholders' equity