Exercise 11-18 Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Alexander Corporation reports the following components of stockholders' equity on December 31, 2016: Common stock-$25 per value, 60,000 shares authorised, 35,000 shares innued and outstanding Paid-in capital in excess of par velos, common stock Retained earning Total stockholdere equity $ 875,000 70,000 352,000 $1,302,000 July In year 2017, the following transactions affected its stockholders' equity accounts. Jan. 2 Purchased 2.500 shares of its own stock at $25 cash per share. Directora declared $1.50 per share cash dividend payable on Pebruary 18 to the February stockholders of record Tab. 20 Paid the dividend declared on January 7. 9 Bold 1,400 of its treasury shares at $30 cash per share. Aug. 27 Sold 1,750 of ita trennery shares at $20 cash per share. Bept. Directora declared $2 per share cash dividend payable on October 22 to the September 23 stockholders of record. Oct. 22 Paid the dividend declared on September 9. Dec. 31 elowed the $57,000 credit belance from net income) in the Income Bumary account to Ratsinad Parnings. 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 Hequired: 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 Answer is not complete. 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 for 2017. No General Journal Dobit Credit 1 Jan 02 87,500 Treasury stock, common Cash . 87 500 2. Jan 07 1,750 Figure Required 2 > 1. Prepare joumal 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 beinnce sheet as of December 31, 2017 Answer is not complete Complete this question by entering your answers in the the below. Required Required 2 Required Prepare a statement of rings for the year ended December 31, 2017. (Amounts to be deduced should be indicated by a minus sion) ALEXANDER CORPORATION Statement of Relined rings For Your Ended December 31, 2017 $ D Return 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 Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Requires 3 Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2017. (Amounts to be deducted should be indicated by a minus sign.) ALEXANDER CORPORATION Stockholders' Equity Section of the Balance Sheet December 31, 2017 Total stockholders' equity 5 D