Alex Corporation reports the following components of stockholders' equity at December 31 of the prior year. Common stock-$25 par value, 70,000 shares authorized, 50,000 shares issued and outstanding $ 1,250,000 Paid-in capital in excess of par value, common stock 100,000 Retained earnings 410,000 Total stockholders' equity $ 1,760,000 During the current year, the following transactions affected its stockholders' equity accounts. January 2 Purchased 5,000 shares of its own stock at $25 cash per share. January 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 2,000 of its treasury shares at $30 cash per share. August 22 Sold 2,500 of its treasury shares at $21 cash per share. September 9 Directors declared a $2 per share cash dividend payable on October 22 to the September 23 stockholders of record. Detober 22 Paid the dividend declared on September 9. December 31 Cloned the $72,000 credit balance (from net income 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 journal entries to record each of these transactions Prepare journal entries to record each of these transactions. View transaction list Journal entry worksheet 3 7 > 5 8 View transaction list Journal entry worksheet 6 repare journal enti View transaction list Journal entry worksheet > 6 8 7 5 Record the reissue of 2,500 shares of the treasury stock for $21 cash per share. Note: Enter debits before credits. Date Debit Credit Aug 27 General Journal Cash Paid in capital, treasury stock Retained earnings Treasury stock, common Record entry Clear entry View general Journal Required Required 2 > D are journal entries to record each of these transactions. lew transaction list Journal entry worksheet 6 7 7 CO Prepare journal entre View transaction list Journal entry worksheet > 7 8