Alexander Corporation reports the following components of stockholders' equity on December 31, 2016: Common stock-$25 par value, 50,000 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 In year 2017, the following transactions affected its stockholders' equity accounts. Jan. Jan. Feb. 2 Purchased 3,000 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 7.1 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 income) in the Income Summary account to Retained Earnings. 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. Required 1 Required 2 Required 3 Prepare journal entries to record each of these transactions for 2017. No Date General Journal Debit Credit 1 Jan 02 Treasury stock, common 90,000 Cash 90,000 2 Jan 07 Retained earnings Common dividend payable 54,000 54,000 3 Feb 28 Common dividend payable 54,000 Cash 54,000 4 4 Jul 09 Cash 28,000 Paid-in capital, treasury stock 2,000 Treasury stock, common 39,000 5 Aug 27 Cash 23,400 Paid-in capital, treasury stock 15,600 Treasury stock, common 39,000 6 Sep 09 Retained earnings Cash 87,900 87,900 7 Oct 22 Common dividend payable 87,900 87,900 Cash 8 Dec 31 Income summary Retained earnings 72,000 72,000 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a statement of retained earnings for the year ended December 31, 2017. (Amounts to be deducted should be indicated by a minus sign.) ALEXANDER CORPORATION Statement of Retained Earnings For Year Ended December 31, 2017 $ 0 < Required 1 Required 3> Dec. 31 Closed the $52,000 credit balance (from net income) in the Income Summary account to Retained Earnings. Required: 1. Prepare journal entries to record each of these transactions 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. 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 I should be indicated by a minus sign.) ALEXANDER CORPORATION Stockholders' Equity Section of the Balance Sheet December 31, 2017 Total stockholders' equity $