CH Alexander Corporation reports the following components of stockholders' equity on December 31, 2016 Common stock-$25 par value, 60,000 shares authorized, 35,e00 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders equity $ 875,860 78,889 357,880 $1,302,009 In year 2017, the following transactions affected its stockholders' equity accounts. an. 2 Purchased 3, 500 shares of its own stock at $25 cash per share. ectors declared a 51.s0 per share cash dividend payable on February 28 to the February 9 stockholders of record. Feb. 28 Paid the dividend declared on 3anuary 7 uly 9Sold 1,480 of its treasury shares at $30 cash per share. Aug. 27 Sold 1,750 of its treasury shares at $20 cash per share. Sept. 9 Directors declared a 52 per share cash dividend payable on October 22 to the September 23 stockholders of recond. Oct. 22 Paid the dividend declared on September 9 Dec. 31 Closed the $57,00 credit balance (from net income) in the Income Summary account to Retained tarnings. 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 Journal entry worksheet 8 5 6 2 3 4 Record the purchase 3,500 shares of its own common stock for $25 cash per share Note: Enter debits before credits. Debit Credit General Journal Date Jan 02 8 7 4 6 1 2 Record the declaration of a cash dividend of $1.50 per share. Note: Enter debits before credits. Credit Debit General Journal Date Jan 07 entry worksheet ournal 8 7 6 2 Record the payment of the cash dividend declared on January 7. Note: Enter debits before credits. Credit Debit General Journal Date Feb 28 Prev 1of 1 Next 8 2 7 6 Record the reissue of 1,400 shares of the treasury stock for $30 cash per share Note: Enter debits before credits. Credit General Journal Debit Date Jul 09 2 8 Record the reissue of 1,750 shares of the treasury stock for $20 cash per share. Note: Enter debits before credits. Date General Journal Debit Credit Aug 27 Journal entry worksheet 2 7 Record the declaration of a cash dividend of s2 per share Note: Enter debits before credits. Debit General Journal Credit Date Sep 09 Journal entry worksheet 8 6 7 3 2 Record the payment of the cash dividend declared on September 9 Note: Enter debits before credits. Debit Credit General Journal Date Oct 22 Journal entry worksheet 1 23 4 56 7 Record the transfer of the credit balance of $57,000 in the income summary account to the retained earnings account. Note: Enter debits before credits Debit Credit General Journal Date Dec 31 Prepare a statement of retained earnings for the year ended December 31, 2017. (Amounts to be deducted should be indicated by a minus sign.) ALEXANDER CORPORATION Statement of Retained Earnings For Year Ended December 31, 2017 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