In 2021, Western Transport Company entered into the treasury stock transactions described below. In 2019, Western Transport had issued 190 million shares of its $1 par common stock at $19 per share. Required: Prepare the appropriate journal entry for each of the following 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. On January 23, 2021, Western Transport reacquired 15 million shares at $22 per share. 2. On September 3, 2021, Western Transport sold 4 million treasury shares at $23 per share. 3. On November 4, 2021, Western Transport sold 4 million treasury shares at $20 per share. View transaction list Journal entry worksheet 1 2 3 Record the reacquisition of 15 million shares at $22 per share. Note: Enter debits before credits. Date January 23, 2021 General Journal Debit Credit Record entry Clear entry View general journal > The shareholders' equity of ILP Industries includes the items shown below. The board of directors of ILP declared cash dividends of $4 million, $17 million, and $180 million in its first three years of operation-2021, 2022, and 2023, respectively. Common stock Paid-in capital-excess of par, common Preferred stock, 5% ($ in millions) $130 950 260 670 Paid-in capital-excess of par, preferred Required: Determine the amount of dividends to be paid to preferred and common shareholders in each of the three years, assuming that the preferred stock is cumulative and nonparticipating. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Par Value Preferred Stock Dividend Rate Annual Preferred Dividend Next Annual Preferred Dividend: % Dividends in Total Cash Dividend Paid Paid to Preferred Paid to Common Arrears at year-end 2021 2022 2023 Total $ 0 $ 0 $ 0