Exercise 11-18 Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 18 points Alexander Corporation reports the following components of stockholders' equity on December 31, 2016: $1,100,000 88,000 389,000 1,577,000 Paid-in eapital in exceas of par value, common stock Total stockholders" equity In year 2017 the following transactions affected its stockholders' equity accounts Jan. 2 Purchased 4,400 shares of its own stock at $25 cash per share a:tors deelared 81.50 per share cash dividend payabie on ebruary 28 to the Feb. 28 Paid the dividend declared on January 7 record at $30 cash per share Sept. 9 Directors declared a $2 per share cash dividend payable on Oetober 22 to the Septenber 23 stockholders of record Oct. 22 Paid the dividend declared on Septenber 9 ec. 31 closed the 566,000 credit balance (from net income) in the Iscome Summary account to Retained tarnings. Required: 1. Prepare journal entries to record each of these transactions for 2017 2. Prepare a statement of retained earnings for the year ended December 31, 2017 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2017 2. Prepare a statement of retained earnings for the year ended 3. Prepare the s r 31, 2017 points Pyint earnings