Alexander Corporation reports the following components of stockholders' equity on December 31, 2016: Common stock-$25 par value, 50,000 shares authorized, 34,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings $850,000 68,000 354,000 $1,272,000 Total stockholders' equity In year 2017, the following transactions affected its stockholders' equity accounts. Jan. 2 Purchased 3,400 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 1,360 of its treasury shares at $30 cash per share Aug. 27 Sold 1,700 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 $56,000 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 Complete this question by entering your answers in the tabs below. Required 1 Required 2Required 3 indicated by a minus sign.) ALEXANDER CORPORATION Statement of Retained Earnings For Year Ended December 31, 2017 0 Required 1 Required 3> Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2017. (Amounts to b should be indicated by a minus sign.) ALEXANDER CORPORATION Stockholders' Equity Section of the Balance Sheet December 31, 2017 0 Total stockholders' equity KRequired 2 Required 3