Saved National Supply's shareholders' equity included the following accounts at December 31, 2017: Shareholders' Equityin millions) Common stock, 4 million shares at $1 par Paid-in capital-excess of par Retained earnings $ 4,000,000 24,006,06e0 85,080,800 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 February 15, 2018 February 17, 2819 November 9, 2828 Reacquired 380,e08 shares at $9 per share. Reacquired 360,000 shares at $6.50 per share. Sold 280,800 shares at $8 per share (as sume FIFO cost) 2 Prepare the shareholders' equity section of National Supply's balance sheet at December 31, 2020, assuming the shares are (a) retired and (b) accounted for as treasury stock. Net income was $20 million in 2018, $21 million in 2019, and $22 million in 2020. No dividends were paid during the three-year period. Complete this question by entering your answers in the tabs below Req 1A Ren 18 Req 2 Prepare the entry for each of the transactions given in the requirement above. Assuned shares are retired. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answors in whole dollars.)