n October 10, the stockholders equity section of Sherman Systems appears as follows.

Common stock$10 par value, 4,150 shares authorized, issued, and outstanding	$ 740,000
Paid-in capital in excess of par value, common stock	226,000
Retained earnings	880,000
Total stockholders equity	$ 1,846,000

1. Prepare journal entries to record the following transactions for Sherman Systems.

1. Purchased 5,200 shares of its own common stock at $27 per share on October 11.
2. Sold 1,050 treasury shares on November 1 for $33 cash per share.
3. Sold all remaining treasury shares on November 25 for $26 cash per share.

2. Prepare the stockholders' equity section after the October 11 treasury stock purchase.