need help on part 3 where the red appears.

Alex Corporation reports the following components of stockholders' equity at December 31 of the prior year. During the current year, the following transactions affected its stockholders' equity accounts. January 2 Purchased 3,600 shares of its own stock at $25 cash per share. January 7 Directors declared a $1.50 per share cash dividend payable on February 28 to the february 9 stockholders of record. February 28 Paid the dividend declared on January 7. July 9 Sold 1,200 of its treasury shares at 530 cash per share. August 27 Sold 1,500 of its treasury shares at $21 cash per share. Septenber 9 Directors declared a $2 per share cash dividend payable on october 22 to the Septenber 23 stockholders of record. october 22 Paid the dividend declared on September 9. December 31 Closed the $52,680 credit balance (from net incone) in the Incone Sumnary account to Retained Earnings. Required: 1. Prepare journal entries to record each of these transactions. 2. Prepare a statement of retained earnings for the current year ended December 31 . 3. Prepare the stockholders' equity section of the balance sheet as of December 31 of the current year. Required: 1. Prepare journal entries to record each of these transactions. 2. Prepare a statement of retained earnings for the current year ended December 31. 3. Prepare the stockholders' equity section of the balance sheet as of December 31 of the current year. * Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Prepare a statement of retained earnings for the current year ended December 31 . (Amounts to be deducted should be indicated by a minus sign.) Required: 1. Prepare journal entries to record each of these transactions. 2. Prepare a statement of retained earnings for the current year ended December 31. 3. Prepare the stockholders' equity section of the balance sheet as of December 31 of the current year. x Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Prepare the stockholders' equity section of the balance sheet as of December 31 of the current year. (Amounts to be deducted should be indicated by a minus sign.)