8 Problem 11-2A Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 zed, outstanding 60,000 Total Print In year 2017, the following transactions affected its stockholders an. Jan. 1 Purchased 4, eee shares of its own stock at $20 cash per share, s Directors declared a s2 per share cash dividend payable on February 28 to the February 5 stockholders of record. References Duly 6 Sold 1,see of its treasury shares at $24 cash per share. Oct. 28 Paid the dividend Dec. 31 Closed the $388,eae credit balance (from net income) in the Incone Summory account to Retained Farnings declared on September 5. 1. Prepare journal entries to record each of these transactions for 2017 2. Prepare a statement of retained earnings for the year ended December 31, 2017 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2017 for 2017, 80.000 80 Feb 28