2. Record the declaration of a cash dividend of $1.50 per share.

3. Record the payment of the cash dividend declared on January 7.

4. Record the reissue of 1,760 shares of the treasury stock for $30 cash per share.

5. Record the reissue of 2,200 shares of the treasury stock for $20 cash per share.

6. Record the declaration of a cash dividend of $2 per share.

7. Record the payment of the cash dividend declared on September 9.

8. Record the transfer of the credit balance of $66,000 in the income summary account to the retained earnings account.

Alexander Corporation reports the following components of stockholders' equity on December 31, 201 Common stock-$25 par value, 70,000 shares authorized, 1,100,000 44,000 shares issued and outstanding Paid-in capital in excess of par value, common stock 88,000 389,000 Retained earnings Total stockholders' equity 1,577,000 in year 2016, the following transactions affected its stockholders' equity accounts. Jan. 2 Purchased 4,400 shares of its own stock at $25 cash per share. Jan. 7 Directors declared a $1.50 per share cash dividend payable on Feb. 28 to the Feb. 9 stockholders of record. Feb. 28 Paid the dividend declared on January 7 July 9 Sold 1,760 of its treasury shares at $30 cash per share. Aug. 27 Sold 2,200 of its treasury shares at $20 cash per share. Sept. 9 Directors declared a $2 per share cash dividend payable on October 22 to the September 23 stockholders of record. Oct. 22 Paid the dividend declared on September 9. Dec. 31 Closed the $66,000 credit balance (from net income) in the Income Summary account to Retained Earnings