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Check my work 10 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 points Common stock-$25 par value, 70,e0e shares authorized. se,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings $1,250,000 100,000 410,000 eBook Total stockholders' equity $1,760,000 Hint In year 2017, the following transactions affected its stockholders' equity accounts. 2 Purchased 5,ee0 shares of its own stock at $25 cash per share. 7 Directors declared a $1.50 per share cash dividend payable on February 28 to the February 9 stockholders of record. 28 Paid the dividend declared on January 7, 9 Sold 2,e00 of its treasury shares at $3e cash per share. 27 Sold 2,500 of its treasury shares at $20 cash per share. Jan. Print Jan. Feb. July Aug. 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. 31 Closed the $72,000 credit balance (from net income) in the Income Sumnary account to Retained Earnings Dec. 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. Required 1 Required 2 Required 3 Prepare a statement of retained earnings for the year ended December 31, 2017. (Amounts to be deducted should be indicated by a minus sign.) ALEXANDER CORPORATION Statement of Retained Earnings For Year Ended December 31, 2017 40 10 Nov $1.58 per share cash dividend payable on February 28 to the February 9 stockholders of record. Feb. July Aug. Sept. Oct. Dec. 28 Paid the dividend declared on January 7. 9 Sold 2,8e0 of its treasury shares at $3e cash per share. 27 Sold 2,500 of its treasury shares at $2e cash per share. 9 Directors declared a $2 per share cash dividend payable on October 22 to the September 23 stockholders of record, 22 Paid the dividend declared on September 9. 31 Closed the $22.000 credit balance (from net income) in the Income Summary account to Retained Earnings. eBook Hint 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 Print Complete this question by entering your answers in the tabs below. Required 1 Required 3 Required 2 Prepare a statement of retained earnings for the year ended December 31, 2017. (Amounts to be deducted should be indicated by a minus sign.) ALEXANDERCORPORATION Statement of Retained Earnings For Year Ended December 31, 2017
