Alexander Corporation reports the following components of stockholders' equity on December 31, 2016. Common stock-$25 par value, 70,000 shares authorized, 48,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $1,200,000 96,00 403,000 $1,699,000 In year 2017, the following transactions affected its stockholders' equity accounts. Jan. Jan. Feb. July Aug. Sept. Oct. Dec. 2 Purchased 4,800 shares of its own stock at $25 cash per share. 7 Directors declared a $1.50 per share cash dividend payable on February 28 to the February 9 stockholders of record 28 Paid the dividend declared on January 7. 9 Sold 1,920 of its treasury shares at $30 cash per share. 27 Sold 2,400 of its treasury shares at $20 cash per share. 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 $70,000 credit balance (from net income) in the Income Summary account to Retained Earnings. $dend declared share cash dirash per the Required: 1. Prepare journal entries to record each of these transactions for 2017 2. Prepare a statement of retained earnings for the year ended December 31, 2017 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2017 Complete this question by entering your answers in the tabs below. View transaction ist Journal entry worksheet 1 2 3 4 5 6 7 8 bed Record the purchase 4,800 shares of its own common stock for $25 cash per share. sok Note: Enter debits before credits. int Date Jan 02 General Journal Debit Credit ences Record entry Clear entry View general journal View transacuon vist Journal entry worksheet Required 1 Required 2 Required 3 Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2017. (Amounts to be deducted should be indicated by a minus sign.) ALEXANDER CORPORATION Stockholders' Equity Section of the Balance Sheet December 31, 2017 Total stockholders' equity