On October 10, the stockholders' equity of Noble Systems appears as follows. Exercise Recording a treasury sto Common stock-$10 par value, 36,000 shares authorized, issued, and outstanding . .. . . . .. $360,000 P3 Paid-in capital in excess of par value, common stock 108,000 Retained earnings . .. .. 432,000 Total stockholders' equity $900,000 1. Prepare journal entries to record the following transactions for Noble Systems. a. Purchased 4,500 shares of its own common stock at $30 per share on October 11. b. Sold 1,200 treasury shares on November 1 for $36 cash per share. c. Sold all remaining treasury shares on November 25 for $25 cash per share. Check (1c) 2. Explain how the company's equity section changes after the October 11 treasury stock purchase, and $9,300 prepare the revised equity section of its balance sheet at that date