Common stock-$10 par value, 100,000 shares authorized, 60,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' quity $ 600,000 70,000 430,000 $1,100,000 During 2020, the following transactions affected its stockholders' equity accounts, Jan 2 Purchased 6,000 shares of its own stock at $20 canh per sbare. Jan. 5 Directors declared a 54 per share cash dividend payable on February 28 to the rebruary 5 stockholders of record. Teb. 20 Paid the dividend declared on January 5. July 6 Sold 2.250 of its treasury shares at $24 cash per share. Mag 22 Sold 3,750 of its troncury shares at $17 canh per share. Sept. 5 Directora declared a $4 per share canh dividend payable on October 28 to the september 25 stockholders of record Oct. 20 Paid the dividend declared on September 5. Dec 31 closed the $380,000 credit balance (from net incone) in the Income Summary account to Retained Warnings Required: 1. Prepare journal entries to record each of these transactions. 2. Prepare a statement of retained earnings for the year ended December 31, 2020 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2020 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare journal entries to record each of these transactions