The December 31, 2024, balance sheet of Garcia Company included the following:
Common stock, 19.0 million shares outstanding at $1 par
Paid-in capital-excess of par
Retained earnings
Garcia completed the following transactions in 2024 relating to treasury stock:
March 17:
May 17:
August 10:
Required:
Reacquired 4.00 million shares at $9.00.
Reacquired 2.00 million shares at $8.50.
Sold 5.00 million shares at $11.50.
$ 19,000,000
95,000,000
105,000,000
Assuming Garcia uses the cost method, prepare journal entries to record the foregoing transactions on a FIFO basis.
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 rounded to 3 decimal places (l.e., 5,555,000 should be entered as 5.555).