Alexander Corporation reports the following components of stockholders' equity at December 31, 2018 Common stock-$25 par value, 30,000 shares authorized 30,000 shares issued and outstanding Paid in capital in excess of par value, common stock Retained earnings Total stockholders' equity $750,000 50,000 340.000 $1,140,000 During 2019, the following transactions affected its stockholders equity accounts Jan. 2 Purchased 3,000 shares of its own stock at $25 cash per share. Jan. 7 Directors 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 9 Sold 1,200 of its treasury shares at $30 cash per share. Aug. 27 Sold 1,500 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 Oct. 22 Paid the dividend declared on September 9. Dec. 31 closed the 352,000 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 year ended December 31, 2019 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2019, During 2019, the following transactions affected its stockholders' equity accounts Jan. 2 Purchased 3,000 shares of its own stock at $25 cash per share. Jan. 7 Directors declared a $1.5e 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 1,200 of its treasury shares at $30 cash per share. Aug. 27 Sold 1,500 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. Oct. 22 Paid the dividend declared on September 9. Dec. 31 Closed the $52,000 credit balance (from net incone) 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. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 11 Na Prepare journal entries to record each of these transactions. No Date Debit Credit 1 .Jan 02 General Journal Treasury stock, common Cash 90,000 90.000 2 Jan 07 > Retained earnings Common dividend payable 54,000 54,000 3 Feb 28 Common dividend payablo Cash 54.000 54.000 4 Jul 09 Cash Paid-in capital, treasury stock Treasury stock, common 28,000 $ 2.000 30.000 5 Aug 27 Cash Paid-in capital treasury stock Treasury stock rommon 23.400 15.600 29 na 4 Jul 09 Cash Paid-in capital, treasury stock Treasury stock, common 28.000 2,000 30.000 5 Aug 27 Cash Paid in capital, treasury stock Treasury stock, common 23.400 15,600 39,000 6 Sep 09 87.900 Retained earnings Common dividend payable Blo 87.900 7 Oct 22 87 900 Common dividend payable Cash 87900 8 Dec 31 72.000 Income summary Retained earnings 72.000 Required 1 Required 2 Required 3 Prepare a statement of retained earnings for the year ended December 31, 2019. (A indicated by a minus sign.) ALEXANDER CORPORATION Statement of Retained Earnings For Year Ended December 31, 2019 Beginning retained earnings $ 340,000 Add: Net income 72,000 X $ 412,000 Less: Cash dividends declared (54,000) Less: Treasury stock reissuances (87.900) Ending retained earnings S 270.100 Required 1 Required 2 LEKKER Required 3 Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2019. (Amounts to be d should be indicated by a minus sign.) ALEXANDER CORPORATION Stockholders' Equity Section of the Balance Sheet December 31, 2019 Common stock - $25 par value $ 750.000 Paid-in capital in excess of par value, common stock 50.000 Retained earnings 270.100 Add Cost of treasury stock (17.600) Total stockholders' equity $ 1.052,500