please provide the answers in a Clear Manner.

2 National Supply's shareholders' equity included the following accounts at December 31, 2020: Shareholders' Equity Common stock, 8 million shares at $i par Paid-in capital-excess of par Retained earnings $ 8,000,000 64,000,000 79,000,000 16.66 polnts eBook 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. References February 15, 2021 February 17, 2022 November 9, 2023 Reacquired 220,090 shares at $11 er share. Reacquired 220,000 shares at $8.50 per share. Sold 140,000 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 $16 million in 2021, $17 million in 2022, and $18 million in 2023. No dividends were paid during the three-year period. Complete this question by entering your answers in the tabs below. Reg 1 Reg 1 Retired Reg 2 Treasury Stock Prepare the entry for each of the transactions given in the requirement above. Assume shares are retired. (If no entry is required for a 2 Reg 1 Retired Reg 1 Treasury Stock Reg 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.) 16.66 points View transaction list eBook Journal entry worksheet Print References Record the purchase of shares on February 15, 2021 for retirement. Note: Enter debits before credits Date General Journal Debit Credit February 15, 2021 2 Reg 1 Retired Reg 1 Treasury Stock Reg 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.) 16.66 polnts View transaction list eBook Journal entry worksheet ho Print References 1 2 3 Record the purchase of 220,000 shares at $11 per share on February 15, 2021 that are accounted for as treasury stock. Note: Enter debits before credits. Date General Journal Debit Credit February 15, 2021 Mc 2 Reg 1 Retired Reg 1 Treasury Stock Reg 2 Prepare the entry for each of the transactions given in the requirement above. Assume shares are treasury stock. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 16.66 polnts View transaction list eBook Journal entry worksheet Print ll w References