Alexander Corporation reports the following components of stockholders' equity on December 31, 2016 Common stock-$25 par value, 70,ee0 shares authorized, 42,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $1,050,ooe 84,000 382,903 $1,516,000 In year 2017, the following transactions affected its stockholders equity accounts. 2 Purchased 4,200 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 February 9 stockholders of record. Jan. Feb. 28 Paid the dividend declared on January 7. July 9 Sold 1,680 of its treasury shares at $3e cash per share. Aug. 27 Sold 2,100 of its treasury shares at $2e 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 $64,00e credit balance (from net income) in the Income Summary account to Retained Earnings. es Required 1. Prepare journal entries to record each of these transactions for 2017 2. Prepare a statement of retained earnings for the year enged December 31. 2017 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2017 Journal entry worksheet Record the purchse 4,200 shares of its own common stock for $25 cash per share Note: Enter debits before credits. General Journal Debit Credit Jan 02 Record entry Clear entry View general journal Journal entry worksheet 2 3 4 6 7 8 Record the declaration of a cash dividend of S1.50 per share. ces Note: Enter debits before credits. Date General Journal Debit Credit Jan 07 Record entry Clear entry View general journal Required 2> Journal entry worksheet 2 3 4. 5 6 7 8 Record the payment of the cash dividend declared on January 7 ces Note: Enter debits before credits Date General Journal Debit Credit Feb 28 Record entry Clear entry View general jouunal View transaction list Journal entry worksheet 1 2 3 5 6 7 8 Record the reissue of 1,680 shares of the treasury stock for $30 cash per share. Note: Enter debits before credits. Date General Journal Debit Credit Jul 09 Record entry Clear entry View general journal Journal entry worksheet 2 3 4 6 7 8 Record the reissue of 2,100 shares of the treasury stock for $20 cash per share. ces Note: Enter debits before credits Date General Journal Debit Credit Aug 27 Record entry Clear entry View general journal Journal entry worksheet 2 3 4 7 8 Record the declaration of a cash dividend of $2 per share es Note: Enter debits before credits. Date General Journal Debit Credit Sep 09 Record entry Clear entry View general journal Journal entry worksheet 2 3 4 6 8 Record the payment of the cash dividend declared on September 9 Note: Enter debits before credits. Date General Journal DebitCredit Oct 22 100 Record entry Clear entry View general journal Journal entry worksheet es 2 3 4 6 7 Record the transfer of the credit balance of $64,000 in the income summary account to the retained earnings account Note: Enter debits before credits. General Journal Debit Credit Dec 31 Record entry Clear entry Complete this questior by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a statement of retained earnings for the year ended December 31, 2017. (Amounts t indicated by a minus sign.) ALEXANDER CORPORATION Statement of Retained Earnings For Year Ended December 31, 2017 Required 1 Required 3> Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required3 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.) ALEXANDER CORPORATION Stockholders' Equity Section of the Balance Sheet December 31, 2017 Total stockholders' equity Required 2