During the current year, the following transactions affected its stockholders' equity accounts. January 2 Purchased 5 , eee shares of its oin 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 2,000 of its treasury shares at 530 cash per share. August 27 Sold 2,50 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 $72, eee credit balance (from net income) in the Income surmary account to Retained Earnings. 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