The shareholders' equity section of the balance sheet of TNL Systems Inc. included the following accounts at December 31, 2012: Shareholders' Equity ($ in millions) Common stock, 240 million shares at $1 par $ 240 Paid-in capitalexcess of par 1,680 Paid-in capitalshare repurchase 1 Retained earnings 1,100 Required: 1. During 2013, 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. (If no entry is required for a particular transaction, 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. On February 5, 2013, TNL Systems purchased 6 million shares at $10 per share. Record the repurchase of shares for retirement. Record the repurchase of shares and accounted as treasury stock. On July 9, 2013, the corporation sold 2 million shares at $12 per share. Record reissue of shares were formally retired on July 09, 2011. Record resale of treasury shares on July 09, 2011. c. On November 14, 2015, the corporation sold 2 million shares at $7 per share. Record reissue of shares were formally retired on November 14, 2015. Record resale of treasury shares on November 14, 2015. 2. Prepare the shareholders equity section of TNL Systems balance sheet at December 31, 2015, comparing the two approaches. Assume all net income earned in 20132015 was distributed to shareholders as cash dividends. (All lines in the table should be filled. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) shareholders equity in millions retirement treasury stock paid in capital 1 2 3 retained earnings 1 2 total shareholders equity $ $