Alexander Corporation reports the following components of stockholders' equity at December 31, 2018. Common stock-$25 par value, 50,000 shares authorized, 32,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity 800,000 64,000 347,000 $1,211,000 During the year, the following transactions affected its stockholders' equity accounts. Jan. 2 Purchased 3,200 shares of its own stock at $25 cash per share. Jan 7 Directors declared : $1.50 per share cash dividend payable on February 28 to the February 9 stockholders of record. Feb. 28 Paid the dividend declared on January 7. July 9 Sold 1,280 of its treasury shares at $30 cash per share. Aug. 27 Sold 1,600 of its treasury shares at $20 cash per share. Sept. 9 Directors declared a $2 per share cash dividend payable on October 22 to the September 23 stockholders of record. 22 Paid the dividend declared on September 9. 31 Closed the $54,239 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 year ended December 31, 2019. 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2019 Comnlete this question by entering your answers in the tabs below. Journal entry worksheet View transaction list Journal entry worksheet VICE LILLIINIL Journal entry worksheet 11 5 6 7 8 8 thon Record the reissue of 1,280 shares of the treasury stock for $30 cash per share. Note: Enter debits before credits. Date General Journal Debit Credit Jul 09 Record entry Clear entry View general journal Required 2 > Journal entry worksheet 11 3 4 6 7 Record the reissue of 1,600 shares of the treasury stock for $20 cash per share. Note: Enter debits before credits, Date General Journal Debit Credit Aug 27 Record entry Clear entry View general journal Required 2 > View transaction list -56:03 Journal entry worksheet Journal entry worksheet View transaction list Journal entry worksheet 1 2 5 5 7 Record the entry to close the $54,000 credit balance (from net income) in the Income Summary account to Retained Earnings. Note: Enter debits before credits. Date General Joumal Debit Credit Dec 31 Record entry Clear entry View general journal Required 2 > december 31, 2019. 5:28 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2019. (Amounts to be should be indicated by a minus sign.) ALEXANDER CORPORATION Stockholders' Equity Section of the Balance Sheet December 31 Total stockholders' equity