The shareholders' equity section of the balance sheet of TNL Systems Incorporated Included the following accounts at December $31,$ Prepare the shareholders' equity section of TNL Systems' balance sheet at December $31,2026,$ comparing the two approaches.

Assume all net income earned in $2024-2026$ was distributed to shareholders as cash dividends.

Complete this question by entering your answers in the tabs below.

Prepare the entries for both the purchase and subsequent resale for the above transactions of the shares assuming the shares are

viewed as treasury stock.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field. Enter your answers in

millions $($i$.$e$.,10,000,000$ should be entered as $10).$

A Record the purchase of $9$ million shares at $$10$ per share

assuming the shares are viewed as treasury stock.

B Record the sale of $3$ million shares at $$12$ per share.

c Record the sale of $3$ million shares at $$7$ per share. During $2024,$ TNL Systems reacquired shares of its common stock and later sold shares in two separate tra

entries for both the purchase and subsequent resale of the shares assuming the shares are $($a$)$ retired and

stock.

a$.$ On February $5,2024,$ TNL Systems purchased $9$ million shares at $$10$ per share.

b$.$ On July $9,2024,$ the corporation sold $3$ million shares at $$12$ per share.

c$.$ On November $14,2026,$ the corporation sold $3$ million shares at $$7$ per share.

Prepare the shareholders' equity section of TNL Systems' balance sheet at December $31,2026,$ comparing

Assume all net income earned in $2024-2026$ was distributed to shareholders as cash dividends.

Complete this question by entering your answers in the tabs below.

Prepare the shareholders' equity section of TNL Systems' balance sheet at December $31,2026,$ comparing the two

approaches. Assume all net income earned in $2024-2026$ was distributed to shareholders as cash dividends.

Note: Enter your answers in millions $($i$.$e$.,10,000,000$ should be entered as $10).$

$2023$:

Required:

During $2024,$ TNL Systems reacquired shares of its common stock and later sold shares in two separate transactions. Prepare the

entries for both the purchase and subsequent resale of the shares assuming the shares are $($a$)$ retired and $($b$)$ viewed as treasury

stock.

a$.$ On February $5,2024,$ TNL Systems purchased $9$ million shares at $$10$ per share.

b$.$ On July $9,2024,$ the corporation sold $3$ million shares at $$12$ per share.

c$.$ On November $14,2026,$ the corporation sold $3$ million shares at $$7$ per share.

Prepare the shareholders' equity section of TNL Systems' balance sheet at December $31,2026,$ comparing the two approaches.

Assume all net income earned in $2024-2026$ was distributed to shareholders as cash dividends.

Complete this question by entering your answers in the tabs below.

Stock

Prepare the entries for both the purchase and subsequent resale for the above transactions of the shares assuming the shares are

retired.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field. Enter your answers in

millions $($i$.$e$.,10,000,000$ should be entered as $10).$