On October 10, the stockholders? equity of Sherman Systems appears as follows:

Common stock?$10 par value, 93,000 shares authorized, issued, and outstanding	$	930,000
Paid-in capital in excess of par value, common stock		321,000
Retained earnings		1,032,000
Total stockholders? equity	$	2,283,000

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

	a.	Purchased 7,100 shares of its own common stock at $46 per share on October 11.
	b.	Sold 1,525 treasury shares on November 1 for $52 cash per share.
	c.	Sold all remaining treasury shares on November 25 for $41 cash per share.

2.	Prepare the revised equity section of its balance sheet after the October 11 treasury stock purchase.