Supermart, Inc. completed the following treasury stock transactions in 2016: Mar. 3 Purchased 1,800 shares of the company's $ 3 par value common stock as treasury stock, paying cash of $10 per share. Mar. 17 Sold 400 shares of the treasury stock for cash of $ 12 per share. Mar. 25 Sold 600 shares of the treasury stock for cash of $ 7 per share. Assume that Paid-In Capital from Treasury Stock Transactions has a beginning credit balance of $400. Required: 1. Journalize these transactions. Explanations are not required. 2. How will Supermart, Inc. report treasury stock on its balance sheet as of December 31, 2016