Alexander Corporation reports the following components of stockholders' equity on December 31, 2016 Common stock-$25 par value, 70,000 shares authorized, 44,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $1,100,000 88,000 389,000 $1,577,000 In year 2017, the following transactions affected its stockholders' equity accounts Jan. 2 Purchased 4, 400 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 1,760 of its treasury shares at $30 cash per share Aug. 27 Sold 2,200 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 $66,000 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 company's balance sheet as of December 31, 2017 Complete this question by entering your answers in the tabs below Required Required 2 Required 3 Prepare journal entries to record each of these transactions for 2017