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, 39,000 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 3.900 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. Paid the dividend declared on January 7. February 28 Sold 1,560 of its treasury shares at $30 cash per share. Sold 1,950 of its treasury shares at $21 cash per share. July 9 August 27 September 9 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 $61,000 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 $ 975,000 78,000 371,000 $ 1,424,000 Required 3 Prepare journal entries to record each of these transactions.

Alex Corporation reports the following components of stockholders equity at December 31 of the prior year. During the current year, the following transactions affected its stockholders' equity accounts. January 2 purchased 3,900 shares of its oun stock at $25 cash per share. January 7 Directors declared o \$1, 50 per share cash sividend payable on February 28 to the february 9 stocitholders of record. February 28 paid the dividend deciared on January 7. July 9 Sold 1,560 of its treasury shares at s3a cash per share. August 27 sold 1,950 of its treasury sheres at s21 cash per share. September 9 Directors declared a 82 per share cash dividend payable on october 22 to the Septenter 23 stockholders of record. october 22 pald the dividend declured on septenber? Decenber 31 Closed the $62, eop credit bulunce (fron pet incone) in the Incone Sumbry account to Retained Faraings. 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