National Supply's shareholders' equity included the following accounts at December 31, 2017: Common stock, 4 million shares at $1 par Paid-in capital-excess of par Retained earnings ($ in mi11ions) s 4,000,000 16,000,000 73,000,000 Required: 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 15, 2018 February 17, 2019 November 9, 2020 acquired 140,000 shares at $7 per share. Reacquired 140, 000 shares at $4.50 per share Sold 80,000 shares at $6 per share (assume FIFO cost). Re 2. Prepare the shareholders' equity section of National Supply's balance sheet at December 31, 2020, assuming the shares are (a) retired and (b) accounted for as treasury stock. Net income was $12 million in 2018, $13 million in 2019, and $14 million in 2020. No dividends were paid during the three-year period. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 2 Prepare the shareholders' equity section of National Supply's balance sheet at December 31, 2020, assuming the shares are (a) retired and (b) accounted for as treasury stock. Net income was $12 million in 2018, $13 million in 2019, and $14 million in 2020. No dividends were paid during the three-year period. (Enter your answers in whole dollars.) Prey 1 of 2 Next > Prepare the shareholders' equity section of National Supply's balance sheet at December 31, 2020, assuming the shares are (a) retired and (b) accounted for as treasury stock. Net income was $12 million in 2018, $13 million in 2019, and $14 million in 2020. No dividends were paid during the three-year period. (Enter your answers in whole dollars.) Shareholuers' Equity Retirement Treasury stoc Paid-in capital ommon stock aid-in capital excess of par etained earnings Total equity Req 1B