4 Alexander Corporation reports the following components of stockholders' equity at December 31, 2018. Common stock-$25 par value, 60,000 shares authorized, 35,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $875,000 70,000 357,000 $1,302,000 During the year, the following transactions affected its stockholders' equity accounts Jan. 2 Purchased 3,500 shares of its own stock at $25 cash per share. Jan. reb. July Mag. 7 Disectors declared a $1.50 per share cash dividend payable on February 28 to the February 9 stockholders of record. 28 Paid the dividend declared on January 7. Sold 1,400 of its treasury shares at $30 cash per share. 27 sold 1,750 of its treasury shares at $20 cash per share. Sept. Directors declared a $2 per share cash dividend payable on October 22 to the September 23 stockholders of record. Get. 22 Paid she dividend declared on September 9. Dec 31 Closed the 057,000 credit balance (from het incone) in the Incone Summary account to Retained Earnings. Required: 1. Prepare journal entries to record each of these transactions 2. Prepare a statement of retained eamings for the year ended December 31, 2019. 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2019. Return to