Context Corporation reports the following components of stockholders equity on December 31, 2011. Common stock - $10 par value, 50,000 shares authorized, 20,000 shares issued and outstanding $200,000 Paid-in capital in excess of par value, common stock 30,000 Retained earnings 135,000 Total stockholders' equity $365,00 In year 2012, the following transactions affected its stockholders' equity accounts. Jan. 1 - Purchased 2,000 shares of its own stock at $20 each per share. Jan. 5 - Directors declared a $2 per share cash dividend payable on Feb. 28 to Feb. 5 stockholders of record. Feb. 28 - Paid the dividend declared on January 5. July 6 - Sold 750 of its treasury shares at $24 cash per share. Aug. 22 - Sold 1,250 of its treasury shares at $17 cash per share. Sept 5 - Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record. Oct. 28 - Paid the dividend declared on September 5. Dec 31 - Closed the $194,000 credit balance (from net income) in the Income Summary account to Retained Earnings. Required 1. Prepare journal entries to record each of these transactions for 2012. 2. Prepare a statement of retained earnings for the year ended December 31, 2012. 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2012