Common stock-$10 par value, 96,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 960,000 336,000 1,056,000 $2,352,000 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 7,400 shares of its own common stock at $49 per share on October 11. b. Sold 1.600 treasury shares on November 1 for $55 cash per share. c. Sold all remaining treasury shares on November 25 for $44 cash per share. 2. Prepare the stockholders' equity section after the October 11 treasury stock purchase. Complete this question by entering your answers in the tabs below. Required 1 Required 2