Alexander Corporation reports the following components of stockholders' equity on December 31, 2015 Common stock $25 par value, 70,000 shares authorized 43,000 shares issued and outstanding 1,075,000 Paid-in capital in excess of par value, common stock 86,000 Retained earnings 385,000 Total stockholders' equity 1,546,000 In year 2016, the following transactions affected its stockholders' equity accounts. Jan. 2 Purchased 4,300 shares of its own stock at $25 cash per share. Jan. 7 Directors declared a $1.50 per share cash dividend payable on Feb. 28 to the Feb. 9 Stockholders of record. Feb. 28 Paid the dividend declared on January 7. July 9 Sold 1,720 of its treasury shares at $30 cash per share. Aug. 27 Sold 2,150 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 $65,000 credit balance (from net income) in the Income Summary account to Retained Earnings