On October $10,$ the stockholders' equity of Sherman Systems appears as follows.Prepare journal entries to record the following transactions for Sherman Systems.a$.$ Purchased $7,300$ shares of its own common stock at $$48$ per share on October $11.$b$.$ Sold $1,575$ treasury shares on November $1$ for $$54$ cash per share.c$.$ Sold all remaining treasury shares on November $25$ for $$43$ cash per share.Prepare the stockholders' equity section after the October $11$ treasury stock purchase.Complete this question by entering your answers in the tabs below.Required $1$Prepare journal entries to record the following transactions for Sherman Systems.a$.$ Purchased $7,300$ shares of its own common stock at $$48$ per share on October $11.$b$.$ Sold $1,575$ treasury shares on November $1$ for $$54$ cash per share.c$.$ Sold all remaining treasury shares on November $25$ for $$43$ cash per share.