Alexander Corporation reports the following components of stockholders equity on December 31, 2015:

Common stock$25 par value, 70,000 shares authorized, 50,000 shares issued and outstanding		$	1,250,000
Paid-in capital in excess of par value, common stock			100,000
Retained earnings			410,000
Total stockholders equity		$	1,760,000

In year 2016, the following transactions affected its stockholders equity accounts.

Jan.	2	Purchased 5,000 shares of its own stock at $25 cash per share.
Jan.	7	Directors declared a $1.50 per share cash dividend payable on Feb. 28 to the Feb. 9 stockholders of record.
Feb.	28	Paid the dividend declared on January 7.
July	9	Sold 2,000 of its treasury shares at $30 cash per share.
Aug.	27	Sold 2,500 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 $72,000 credit balance (from net income) in the Income Summary account to Retained Earnings.

Prepare a statement of retained earnings for the year ended December 31, 2016. (Amounts to be deducted should be indicated by a minus sign.)

ALEXANDER CORPORATION
Statement of Retained Earnings
For Year Ended December 31, 2016

Prepare the stockholders equity section of the companys balance sheet as of December 31, 2016. (Amounts to be deducted should be indicated by a minus sign.)

ALEXANDER CORPORATION
Stockholders Equity Section of the Balance Sheet
December 31, 2016
Total stockholders equity

Prepare journal entries to record each of these transactions for 2016.

Date

General Journal

Debit

Credit