Question 2 Nash Limited had the following equity accounts on January 1, 2017: Share Capital - Ordinary (4 par) 333,300, Share Premium-Ordinary 216,450, and Retained Earnings 104,890. In 2017, the company had the following treasury share transactions. Mar. 1 Purchased 6,410 shares at 9 per share. June 1 Sold 840 shares at 13 per share. Sept. 1 Sold 2,160 shares at 10 per share. Dec. 1 Sold 1,230 shares at 7 per share. Nash uses the cost method of accounting for treasury shares. In 2017, the company reported net income of 34,530. Journalize the treasury share transactions, and prepare the closing entry at December 31, 2017, for net income. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 1 Open accounts for (1) Share Premium-Treasury, (2) Treasury Shares, and (3) Retained Earnings. Post to these accounts using J10 as the posting reference. (Post entries in the order of journal entries presented in the previous part.) Share Premium-Treasury Date Explanation Ref Debit Credit Balance J10 310 210 Treasury Shares Date Explanation Ref Debit Credit Balance J10 J10 J10 J10 Retained Earnings Date Explanation Ref Debit Credit Balance Balance J10 Prepare the equity section for Nash Limited at December 31, 2017. NASH LIMITED Statement of Financial Position (Partial)