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Alexander Corporation reports the following components of stockholders' equity at December 31, 2018. Common stock-$25 par value, 70,000 shares authorized, 45,000 shares issued and outstanding

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Alexander Corporation reports the following components of stockholders' equity at December 31, 2018. Common stock-$25 par value, 70,000 shares authorized, 45,000 shares issued and outstanding Paid-in capital in excess of par value, comon stock Retained earnings Total stockholders' equity $1,125,000 90,000 392,000 $1,607,000 Jan. During the year, the following transactions offected its stockholders' equity accounts. 2 Purchased 4,500 shares of its own stock at $25 cash per share. Jan. 7 Directora declared a $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 Sold 1,800 of its treasury shares at $30 cash per share. Aug. 27 Sold 2,250 of its treasury shares at $20 cash per share. Bept. Directora declared 82 per share cash dividend payable on October 22 to the September 23 stockholders of record. Oct. 22 Paid the dividend declared on September 9. 31 closed the $67,000 credit balance (fron net income) in the Income Summary account to Retained warningo. 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. Dec. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Grenses entre of these Required 1 Required 2 Required 3 Prepare journal entries to record each of these transactions. No Date General Journal Debit Credit 1 Jan 02 Treasury stock, common Cash 112,500 112,500 2 Jan 07 Retained earnings Common dividend payable 67,500 IS 67,500 3 Feb 28 Common dividend payable Cash 67,500 67,500 4 Jul 09 54,000 Cash Treasury stock, common Paid in capital treasury stock 50,000 4,000 5 Aug 27 Cash Paid in capital treasury stock Retained earnings Treasury stock, common OOOO 45,000 6 Sep 09 Retained earnings Candie 90,000 Do onnan > 67,buv Common dividend payable 67,500 3 Feb 28 Common dividend payable 67,500 Cash >> 67,500 4 Jul 09 54,000 Cash Treasury stock, common Paid-in capital, treasury stock 50,000 4,000 5 Aug 27 Cash Pald-in capital, treasury stock Retained earnings Treasury stock, common OOO 45,000 6 Sep 09 Retained earnings Common dividend payable 90,000 90,000 7 Oct 22 Common dividend payable Cash 90,000 3 O 90,000 8 Dec 31 Income Summary Retained earnings Required 2 > 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 deductes should be indicated by a minus sign.) ALEXANDER CORPORATION Stockholders' Equity Section of the Balance Sheet December 31 Common stock - $25 par value Paid-in capital in excess of par value, common stock Retained earnings Less: Cost of treasury stock Total stockholders' equity 0 $

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