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

Common stock$25 par value, 70,000 shares authorized, 46,000 shares issued and outstanding	$	1,150,000
Paid-in capital in excess of par value, common stock		92,000
Retained earnings		396,000
Total stockholders equity	$	1,638,000

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

Jan.		2		Purchased 4,600 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 1,840 of its treasury shares at $30 cash per share.
Aug.		27		Sold 2,300 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 $68,000 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.

*Record the purchase 4,600 shares of its own common stock for $25 cash per share. *Record the declaration of a cash dividend of $1.50 per share. *Record the payment of the cash dividend declared on January 7. *Record the reissue of 1,840 shares of the treasury stock for $30 cash per share. *Record the reissue of 2,300 shares of the treasury stock for $20 cash per share. *Record the declaration of a cash dividend of $2 per share.

*Record the payment of the cash dividend declared on September 9.

*Record the transfer of the credit balance of $68,000 in the income summary account to the retained earnings account.

Date	General Journal	Debit	Credit
Dec 31

ALEXANDER CORPORATION
Statement of Retained Earnings
For Year Ended December 31, 2017
	$0
	$0

ALEXANDER CORPORATION
Stockholders Equity Section of the Balance Sheet
December 31, 2017
Total stockholders equity	$0