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 valve, 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. 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 Tebruary 9 stockholders of record. Feb. 28 Paid the dividend declared on January 7. 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 2) 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 tetained tarnings 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 i Required 2 Required 3 Prepare journal entries to record each of these transactions for 2017 View transactions 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 transaction list Journal entry worksheet Chap 11 Assignment Oct. 22 Paid the dividend declared on September 9. Dec. 31 closed the $52,000 credit balance (from net income) in the Tncome Summary account to Retained Rarnings. 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 3 Required 1 Required 2 Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2017. (Amounts to be deducted should be indicated by a minus sign.) aloe ALEXANDER CORPORATION Stockholders' Equity Section of the Balance Sheet December 31, 2017 Total stockholders' equity ( Hequired 2
