Alexander Corporation reports the following components of stockholders equity on December 31, 2016: Common stock$25 par value, 60,000 shares authorized, 37,000 shares issued and outstanding $ 925,000 Paid-in capital in excess of par value, common stock 74,000 Retained earnings 364,000 Total stockholders equity $ 1,363,000 In year 2017, the following transactions affected its stockholders equity accounts. Jan. 2 Purchased 3,700 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 1,480 of its treasury shares at $30 cash per share. Aug. 27 Sold 1,850 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 $59,000 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.

6 Alexander Corporation reports the following components of stockholders' equity on December 31, 2016 Common stock-$25 par value, 60,000 shares authorized, 10 37,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 925,000 74,000 364,000 $1,363,000 points eBook In year 2017, the following transactions affected its stockholders' equity accounts. Jan 2 Purchased 3,700 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 Print record Feb. 28 Paid the dividend declared on January 7 July 9 Sold 1,480 of its treasury shares at $30 cash per share. Aug. 27 Sold 1,850 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 References record Oct. 22 Paid the dividend declared on September9 Dec. 31 Closed the $59,000 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 1Required 2 Required 3 Prepare journal entries to record each of these transactions for 2017 View transaction list