Exercise 13-12 Recording and reporting treasury stock transactions LO P3 On October 10, the stockholders' equity of Sherman Systems appears as follows. Common stock-$10 par valve, 94,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 940,000 326,000 1,040,000 $2,306,000 1. Prepare journal entries to record the following transactions for Sherman Systems a. Purchased 7,200 shares of its own common stock at $47 per share on October 11. b. Sold 1,550 treasury shares on November 1 for $53 cash per share. c. Sold all remaining treasury shores on November 25 for $42 cash per share. 2. Prepare the stockholders equity section after the October 11 treasury stock purchase, Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the stockholders' equity section after the October 11 treasury stock purchase Raviced Equity Seetion of Balance Sheyt After October 11 Total contributed capital Total Total stockholders' equity Required