National Supply's shareholders' equity includod the following accounts at December 3t,2020. Required: 1. National Supply reacquired shares of ins common stock in two separate transactions and laner sold shises. Prepare the entries for each of the transactions under each of two separate assumptions: the shoires are (a) retired and (b) accounted for as treasury stock. 2. Prepare the shareholders' equity section of National Supply's balance sheat at Decemoer sl. 2023, assuming the 2022 , and $16 million in 2023. No dividends were paid during the three-yeor period. Complete this question by entering your answers in the tabs below. Prepare the entry for each of tho transactions given in the requirement above. Assume shares are retired. (If no entry is trepare the entry for each of tho transactions givent, select "No journsi entry required" in the first account field.] Journal entry worksheet 3 Record the purchase of shares on February 15, 2021 for retirement