Alex Corporation reports the following components of stockholders' equity at December 31 of the prior year. Common stock-$25 par value, 50,000 shares authorized, 31,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity During the current year, the following transactions affected its stockholders' equity accounts. January 2 Purchased 3,100 shares of its own stock at $25 cash per share. January 7 February 28 July 9 August 27 September 9 $ 775,000 62,000 343,000 $ 1,180,000 Directors declared a $1.50 per share cash dividend payable on February 28 to the February 9 stockholders of record. Paid the dividend declared on January 7. Sold 1,240 of its treasury shares at $30 cash per share. Sold 1,550 of its treasury shares at $21 cash per share. Directors declared a $2 per share cash dividend payable on October 22 to the September 23 stockholders of record. October 22 Paid the dividend declared on September 9. December 31 Closed the $53,000 credit balance (from net income) in the Income Summary account to Retained Earnings. Required 1 Required: 1. Prepare journal entries to record each of these transactions. 2. Prepare a statement of retained earnings for the current year ended December 31. 3. Prepare the stockholders' equity section of the balance sheet as of December 31 of the current year. Complete this question by entering your answers in the tabs below. Required 2 Required 3

Juring the current yeac, the following transactions affected its stockholders' equity accounts. January 2 Purchased 3,100 shares of its own stock at $25 cash per share. January 7 Directors declared a $1.50 per share cash dividend payable on February 28 to the February 9 stockhelders of Eebruary 28 Paid the dividend declared on January 7. July 9 Sold 1,240 of 1 ts treasury shares at 530 cash per shace. August 27 Sold 1,550 of its treasury shares at $21 cash per share. september 9 Directors declared a $2 per share cash dividend payable on Detober 22 to the 5 epteaber 23 stoekhotders of October 22 Paid the dividend declared on September 9. Decenber 31 Ctosed the $53,000 credit balance (from net. income) in the Incone Summary account to Retajned Earnings. Required: 1. Prepare journal entries to record each of these transactions. 2. Prepare a statement of retained earnings for the current year ended December 31. 3. Prepare the stockholders' equity section of the balance sheet as of December 31 of the current year. Complete this question by entering your answers in the tabs below