On October 10, the stockholders' equity of Sherman Systems appears as follows. Common stock-$10 par value, 89,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 890,000 301,000 1,000,000 $2,191,000 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 6,700 shares of its own common stock at $42 per share on October 11. b. Sold 1,425 treasury shares on November 1 for $48 cash per share. c. Sold all remaining treasury shares on November 25 for $37 cash per share. 2. 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 Required 2 Prepare the stockholders' equity section after the October 11 treasury stock purchase. Revised Equity Section of Balance Sheet After October 11 Required 1 Required 2 Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 6,700 shares of its own common stock at $42 per share on October 11. b. Sold 1,425 treasury shares on November 1 for $48 cash per share. c. Sold all remaining treasury shares on November 25 for $37 cash per share. View transaction list View journal entry worksheet No Transaction General Journal Debit 1 Treasury stock Cash 3 2 b. Cash Treasury stock Paid-in capital, treasury stock 3 C. Cash Paid-in capital, treasury stock Retained earnings Treasury stock Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the stockholders' equity section after the October 11 treasury stock purchase. Revised Equity Section of Balance Sheet After October 11 Common stock, $10 par Paid-in capital in excess of par value, common stock Total contributed capital Retained earnings Total Less: Cost of treasury stock Total stockholders' equity $ 0 < Required 1 Required 2