Question 5 The shareholders' equity section of the balance sheet of White, Inc. included the following accounts at December 31, 2021: $ Shareholders' Equity Common stock, 200,000 shares at $1 par Paid-in capital - excess of par Paid-in capital - share repurchase Retained eamings 200,000 1,200,000 30,000 205,000 a. Prepare the entries for both the purchase and subsequent resale of shares, treated as retired stock in good form. On March 6, 2021, White reacquired 40,000 shares of stock at $9 per share. On September 3, 2021, the corporation sold 10,000 shares at $11 per share. On October 12, 2021, the corporation sold 20,000 shares at $7 per share. REQUIRED: b. Using transactions 1-3 below, prepare the entries for both the purchase and subsequent resale of shares, treated as treasury stock in good form. On March 6, 2021, White reacquired 40,000 shares of stock at $9 per share. On September 3, 2021, the corporation sold 10,000 shares at $11 per share. On October 12, 2021, the corporation sold 20,000 shares at $7 per share. Date Explanation Debit Credit Date Explanation Debit Credit