Exercise 1124 (Algo) Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Alex Corporation reports the following components of stockholders' equity at December 31 of the prior year. During the current year, the following transactions affected its stockholders' equity accounts. zanunry 2 Pirehased 4,100 shares of its omn stock at $25 cash per shace. February 28 pald the dividend declared on zanuary ?. 3uly 9 sold 1,640 of les treasury shares at $30 cash per share. August 27 sold 2 , 050 of its treasury shares at $21 cash per shore. September 9 Directors declared a $2 per sbare cash dividend payable on october 22 to the Septenber 23 stockholders of record, October 22 Pold the dividend declared on Septenber 9. Decenter 31 Closed the $63,000 credlt balance (from net incone) in the Incone sunmary account to fetained tarnings. 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 Prepare journal entries to record each of these transactions. Journal entry worksheet Record the purchase of 4,100 shares of its own common stock for 525 cash per share. Moter inter debils before ereditu