1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 7,300 shares of its own common stock at $48 per share on October 11 . b. Sold 1,575 treasury shares on November 1 for $54 cash per share. c. Sold all remaining treasury shares on November 25 for $47 cash per share. 2. Prepare the stockholders' equity section after the October 11 treasury stock purchase