Alex Corporation reports the following components of stockholders' equity at December 31 of the prior year. Common stock-$25 par value, 60,000 shares authorized, 38,000 shares issued and outstanding $ 950,000 Paid-in capital in excess of par value, common stock 76,000 Retained earnings 368,000 Total stockholders' equity $ 1,394,000 During the current year, the following transactions affected its stockholders' equity accounts January 2 Purchased 3,800 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 stockholders of record. February 28 Paid the dividend declared on January 7. July 9 Sold 1,520 of its treasury shares at $30 cash per share. August 27 Sold 1,900 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 September 9 record. October 22 Paid the dividend declared on September 9. December 31 Closed the $60,000 credit balance (from net income) in the Income Sunary account to Retained 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. Required 1 Required 2 Required 3 Prepare journal entries to record each of these transactions. View transaction list Journal entry worksheet > 1 2 3 8 4 5 7 6 View transaction list Journal entry worksheet Prepare journal entries to record each of these transactions. View transaction lit Pent Journal entry worksheet References Record the declaration of a cash dividend of $1.50 per share. Note: Enter dents before credits General Journal Dehli Credit Date January 07 Record entry Clearby View general journal Men > View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 References Record the payment of the cash dividend declared on January 7. Note: Enter debits before credits General Journal Dehit Credit Date February 28 Record entry Clear entry View general Journal Required View transaction list Hint Journal entry worksheet Print 4 5 6 7 8 > References Record the reissue of 1,520 shares of the treasury stock for $30 cash per share. Note: Enter detits before credits General Journal Debit Credit Date July 09 Record entry Clear entry View general journal Meda View transaction list Hint Journal entry worksheet Print 2 3 4 5 6 7 B > References Record the reissue of 1,900 shares of the treasury stock for $21 cash per share. Note: Enter debits before credits Date General Journal Debit Credit August 27 Record entry Clear entry View general Journal Required 23 Hint Journal entry worksheet Print References Record the declaration of a cash dividend of $2 per share. Note: Enter debits before credits General Journal Debit Credit Date September 09 Clear entry View general journal Record entry Required) View transaction list Hint Journal entry worksheet Print References Record the payment of the cash dividend declared on September 9 Notes Enter debits before credits General Journal Debit Credit Data October 22 Record entry Clear entry View general Journal Required) Prepare journal entries to record each of these transactions View transaction lit Journal entry worksheet 2 > Florences Record the entry to close the $60,000 credit balance (from net income in the Income Summary account to Retained Earnings Edit before creo General Journal Debit Credit Date December 31 Recorder Clear entry In the Income Summary account to Retained 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. Required 1 Required 2 Required 3 Prepare a statement of retained earnings for the current year ended December 31. (Amounts to be deducted should be indicated by a minus sign.) ALEX CORPORATION Statement of Retained Earnings For Current Year Ended December 31 ACUN in the Income Surnary account to Retained 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. Required 1 Required 2 Required 3 Prepare the stockholders' equity section of the balance sheet as of December 31 of the current year. (Amounts to be deducted should be indicated by a minus sign.) ALEX CORPORATION Stockholders' Equity Section of the Balance Sheet December 31 Total stockholders' equity