Requirement 1. Journalize Northern's transactions in b, c, d, and e. Explanations are not required. (Enter amounts in millions as provided to you in the problem statement. Record debits first, then credits. Exclude explanations from any journal entries.) b. Issuance of 16 million shares of common stock for $11.50 per share. Date b. Journal Entry Accounts c. Purchase of 8 million shares of treasury stock for $88 million. Date Journal Entry Accounts Debit Credit More info a. Net income, $446 million Debit Credit b. Issuance of 16 million shares of common stock for $11.50 per share c. Purchase of 8 million shares of treasury stock for $88 million d. Sold 2 million of the treasury shares purchased in part c for $30 million Journal Entry Date d. Accounts Debit Credit e 1. Declaration and payment of cash dividends of $29 million. Journalize the declaration of the dividend only. You will prepare the journal entry for the payment of the dividend next. Date e 1. Journal Entry Accounts Debit Credit d. Sold 2 million of the treasury shares purchased in part c for $30 million e. Declaration and payment of cash dividends of $29 million Print Done Data table Common stock, $2.00 par value per share, 26 million shares issued Paid-in capital in excess of par value Retained earnings $ 52 65 240 Treasury stock, at cost (50) $ 307 Total stockholders' equity Print Done