Check my 20 Alex Corporation reports the following components of stockholders' equity at December 31 of the prior year. 10 points Common stock-$25 par value, 50,000 shares authorized, 30,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 750,000 50,000 340,000 $ 1,140,000 eBook CO Hint During the current year, the following transactions affected its stockholders' equity accounts. January 2 Purchased 3,000 shares of its own stock at $25 cash per share. January 7 Directors declared a $1.50 per share cash dividend payable on February 28 to the February 9 stockholders of record. February 28 Paid the dividend declared on January 7. July 9 Sold 1,200 of its treasury shares at $30 cash per share. August 27 Sold 1,500 of its treasury shares at $21 cash per share. September 9 Directors declared a $2 per share cash dividend payable on October 22 to the September 23 stockholders of record. October 22 Paid the dividend declared on September 9. December 31 closed the $52,000 credit balance (from net income) in the Income Summary account to Retained Earnings. Print References Required: 1. Prepare journal entries to record each of these transactions. 2. Prepare a statement of retained earnings for the current year ended December 31. 3. Prepare the stockholders' equity section of the balance sheet as of December 31 of the current year. Prepare a statement of retained earnings for the current year ended December 31. (Amounts to be deducted should be indicated by a minus sign.) ALEX CORPORATION Statement of Retained Earnings For Current Year Ended December 31 $ 0 Prepare the stockholders' equity section of the balance sheet as of December 31 of the current year. (Amounts to be deducted should be indicated by a minus sign.) ALEX CORPORATION Stockholders' Equity Section of the Balance Sheet December 31 Total stockholders' equity $