Alexander Corporation reports the following components of stockholders equity on December 31, 2016 Common stock$25 par value, 60,000 shares authorized, 35,000 shares issued and outstanding $ 875,000 Paid in capital in excess of par value, common stock 70,000 Retained earnings 357,000 Total stockholders equity $ 1,302,000 In year 2017, the following transactions affected its stockholders equity accounts Jan 2 Purchased 3,500 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 1,400 of its treasury shares at $30 cash per share Aug 27 Sold 1,750 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 $57,000 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 companys balance sheet as of December 31, 2017 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 Retained earnings, December 31, 2016 Less Cash dividends declared ) Retained earnings, December 31, 2017 Prepare the stockholders equity section of the companys 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 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

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Alexander Corporation reports the following components of stockholders equity on December 31, 2016: Common stock$25 par value, 60,000 shares authorized, 35,000 shares issued and outstanding

Alexander Corporation reports the following components of stockholders equity on December 31, 2016:


Common stock$25 par value, 60,000 shares authorized, 35,000 shares issued and outstanding	$	875,000
Paid-in capital in excess of par value, common stock		70,000
Retained earnings		357,000
Total stockholders equity	$	1,302,000

In year 2017, the following transactions affected its stockholders equity accounts.

Jan.	2	Purchased 3,500 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 1,400 of its treasury shares at $30 cash per share.
Aug.	27	Sold 1,750 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 $57,000 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 companys balance sheet as of December 31, 2017.

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
Retained earnings, December 31, 2016


Less: Cash dividends declared	)

Retained earnings, December 31, 2017

Prepare the stockholders equity section of the companys 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
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