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: Connon stock-$25 par value, 68,882 shares authorized 39,880 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 975,000 78,888 371,880 $1,424,082 In year 2017, the following transactions affected its stockholders' equity accounts. Jan. 2 Purchased 3, see shares of its own stock at $25 cash per share. Jan. 7 Directors declared a $1.50 per share cash dividend payable on February 28 to the February 9 stockholders of record. Feb. 28 Paid the dividend declared on January 7. July 9 Sold 1,56e of its treasury shares at $38 cash per share. Aug. 27 Sold 1,950 of its treasury shares at $20 cash per share. Sept. 9 Directors declared a $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 Closed the $61,688 credit balance (from net income) in the Income Summary account to Retained Earnings. Required: 1. Prepare foumal entries to record each of these transactions for 2017. 2 Prepare a statement of retained eamings 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. Required 1 Required 2 Required 3 Prepare journal entries to record each of these transactions for 2017. View transaction Mat Journal entry worksheet Record the reissue of 1,950 shares of the treasury stock for $20 cash per share. Note: Enter debits before credits. Credit Date Aug 27 Debit 39.000 General Journal Cash Paid-in capital, treasury stock Retained earnings Treasury stock, common Record entry Clear entry View general Journal