On October 10, the stockholders' equity of Sherman Systems appears as follows.

Common stock-$10 par value, 77,000 shares

authorized, issued, and outstanding$770,000

Paid-in capital in excess of par value, common stock241,000

Retained earnings904,000

Total stockholders' equity$1,915,000

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

Purchased 5,500 shares of its own common stock at $30 per share on October 11.

Sold 1,125 treasury shares on November 1 for $36 cash per share.

Sold all remaining treasury shares on November 25 for $25 cash per share.

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

a. Purchased 5,500 shares of its own common stock at $30 per share on October 11.

b. Sold 1,125 treasury shares on November 1 for $36 cash per share.

c. Sold all remaining treasury shares on November 25 for $25 cash per share.

Info forthe stockholders' equity section after the October 11 treasury stock purchase.

1. Revised Equity Section of Balance Sheet After October 11

2. Total contributed capital

3. Total