In 2018, Poes Products completed the treasury stock transactions described below.

January 2: Reacquired 12 million shares at $18 per share.

February 15: Sold 4 million shares at $25 per share.

September 20: Sold 4 million treasury shares at $20 per share.

Poes Products had issued 60 million shares of its $1 par common stock for $20 several years ago.

Prepare any necessary journal entries to record the above transactions. Show all computations.