Exercise 13-18 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: 14.32 points e ook Common stock-$25 par value, 50,000 shares authorised, 30,000 shares issued and outstanding Paid-in capital in excess of par valve, conton bok Retained earnings Total stockholders' equity $750,000 50,000 340,000 $1,140,000 Hint Print In year 2017, the following transactions affected its stockholders' equity accounts. References 2 Purchased 3,000 shares of its own stock at 925 con per share. Jan. 7 Directora declared a $1.50 per share cash dividend payable on February 28 to the Tebruary 9 stockholders of record. Feb. 28 Paid the dividend declared on January 7. July 9 Sold 1,200 of its tresury shared at $30 cash per share. Aug 27 Sold 1,500 of its rury shared at 320 ench per share Sept. Directors declared a $2 per share dan dividend payable on telex 22 to the September 2) stockholders of record Det. 22 Paid the dividend declared on September 9. Dec. 31 closed the $52.000 credit balance from the Inco Brary account to Retained Earnings. 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 Complete this question by entering your answers in the tabs below