Alexander Corporation reports the following components stockholders' equity at December 31, 2018. Common stock-$25 par value, 60,000 shares authorized, 40,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $1,000,000 80,000 375,000 $1,455,000 During the year, the following transactions affected its stockholders' equity accounts Jan. Jan. Feb. July Aug. Sept. Oct. Dec. 2 Purchased 4,000 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 28 Paid the dividend declared on January 7. 9 Sold 1,600 of its treasury shares at $30 cash per share. 27 Sold 2,000 of its treasury shares at $20 cash per share. 9 Directors declared a $2 per share cash dividend payable on October 22 to the September 23 stockholders of record. 22 Paid the dividend declared on September 9. 31 Closed the $62,000 credit balance (from net income) in the Income Summary account to Retained Earnings. Required: 1. Prepare journal entries to record each of these transactions 2. Prepare a statement of retained earnings for the year ended December 31, 2019 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2019. Prepare journal entries to record each of these transactions. View transaction list Journal entry worksheet