Alexander Corporation reports the following components of stockholders' equity on December 31, 2016: Connon stock-125 par valse, 60,000 shares authorised, 39,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity 975,000 79,500 371,008 $1,434,000 In year 2017, the following transactions affected its stockholders' equity accounts Jan. Feb. July Aug- Sept. 2 Purchased 3,900 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 stockholders of record. 28 Paid the dividend declared on January 7. old 1,560 of its treasury shares at $30 cash per share. 27 Seld 1,950 of its treasury shares at $20 cash per share. 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 $61,000 eredit balance (from net income) in the Income Summary account to Retained Earning. 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. View journal entry worksheet View transactions No 1 Date General Journal Jan 02 Treasury stock, common Cash N N Deb Credit 97,500 97.500 2 Jan 07 Retained earnings Common dividend payable 52,650 $2.650 3 Feb 28 Common dividend payable Cash 52.650 52.650 4 Ju09 Cash 46.800 Paid-in capital, treasury stock 7.800 Treasury stock, common 39,000 Aug 27 Cash 39.000 Paid-in capital, treasury stock 7,800 Retained eamings 1.900 Treasury stock, common 46,750 Sep 09 Retained eamings 17220 Common dividend payable 77,220 Oct 22 Common dividend payable 17.220 Cash 77.220 N N B Dec 31 Income summary Retained eamings Required 2> 1,000 $1,000