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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, 70,000 shares authorized, se,eee shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $1,250,ee0 100,000 410,e00 eBook $1,760,000 Hint In year 2017, the following transactions affected its stockholders' equity accounts. 2 Purchased 5,000 shares of its own stock at $25 cash per share. 7 Directors declared a $1.5e per share cash divide 28 Paid the dividend declared on January 7. 9 Sold 2,000 of its treasury shares at $30 cash per share. 27 Sold 2,5o0 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. payable on February 28 to the February 9 stockholders of record. 22 Paid the dividend declared on September 9. 31 Closed the $72,000 credit balance (from net income) in the Income Summary 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 the stockholders' equity section of the company's balance sheet as of December 31, 2017. (Amounts to be deducted should be indicated by a minus sign.) ALEXANDER CORPORATION Stockholders' Equity Section of the Balance Sheet December 31.2017 Ac raw Check my work 10 7 Directors declared a $1.se 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,eee of its treasury shares at $3e cash per share. 27 Sold 2.500 of its treasury shares at $20 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 $72,000 credit balance (from net incone) in the Income Sunmary account to Retained Earnings. Jan. Feb. July Aug. Sept. Oct. Dec. ts 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 ellook Complete this question by entering your answers in the tabs below. Hint Required 1 Required 2 Required 3 Print Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2017. (Amounts to be deducted should be indicated by a minus sign.) ALEXANDER CORPORATION Stockholders' Equity Section of the Balance Sheet December 31, 2017 4 Total stockholders' equity 0 Rered 3 Required 2