National Supply's shareholders' equity included the following accounts at December 31, 2020 Shareholders Equity Common stock, 2 million shares at $1 par $ 2,000,000 Paid-in capital-excess of par 16,000,000 Retained earnings 82,000,000 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, 2021 February 17, 2022 November 9, 2023 Reacquired 260,000 shares at 511 per share. Reacquired 260,800 shares at $8.50 per share. Sold 170,300 shares at $10 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 $18 million in 2021 $19 million in 2022 and $20 milion in 2023 No dividends were paid during the three-year period. Complete this question by entering your answers in the tabs below. Journal entry worksheet Record the purchase of shares on February 15, 2021 for retirement. Note: Enter debits before credits. Date General Journal Debit Credit February 15, 2021 lournal entry worksheet Record the purchase of shares on February 17, 2022 for retirement. Note: Enter debits before credits. General Journal Debit Credit Date February 17, 2022 Record entry Clear entry View general journal Journal entry worksheet