National Supply's shareholders' equity included the following accounts at December 31, 2020 Shareholders Equity Common stock, 9 million shares at $1 par. Paid-in capital-excess of par Retained earnings Required: $ 9,000,000 81,000,000 80,500,000 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, 2021 February 17, 2022 November 9, 2023 Reacquired 240,000 shares at $12 per share. Reacquired 240,000 shares at $9.50 per share. Sold 155,000 shares at $11 per share (assume FIFO cost). 2. Prepare the shareholders' equity section of National Supply's balance sheet at December 31, 2023, assuming the shares are (a) retired and (b) accounted for as treasury stock. Net income was $17 million in 2021, $18 million in 2022, and $19 million in 2023, No dividends were paid during the three-year period. Complete this question by entering your answers in the tabs below. 2. Prepare the shareholders' equity section of National Supply's balance sheet at December 31, 2023, assuming the shares are (a) retired and (b) accounted for as treasury stock. Net income was $17 million in 2021, $18 million in 2022, and $19 million in 2023 No dividends were paid during the three-year period. Complete this question by entering your answers in the tabs below. Req 1 Retired Req 1 Treasury Stock Req 2 Prepare the entry for each of the transactions given in the requirement above. Assume shares are retired. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 2 3 Record the purchase of shares on February 15, 2021 for retirement