At december 31, 2015, the balance sheet of meca international included the following shareholders' equity accounts:

shareholders’ equity ($ in millions)

common stock, 95 million shares at $1 par $ 95

paid-in capital—excess of par 470

retained earnings 580

required: assuming that meca international views its share buybacks as treasury stock, record the appropriate journal entry for each of the following transactions: (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

1. on february 12, 2016, meca reacquired 2 million common shares at $17 per share.

2. on june 9, 2017, meca reacquired 3 million common shares at $12 per share.

3. on may 25, 2018, meca sold 3 million treasury shares at $20 per share—determine cost as the weighted-average cost of treasury shares.

4. for the previous transaction, assume meca determines the cost of treasury shares by the fifo method.