On October 10, the stockholders' equity of Sherman Systems appears as follows. Common stock-$10 par value, 86,800 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 860, eee 286,800 976, eee $ 2,122,800 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 6,400 shares of its own common stock at $39 per share on October 11. b. Sold 1,350 treasury shares on November 1 for $45 cash per share. c. Sold all remaining treasury shares on November 25 for $34 cash per share. 2. Prepare the stockholders' equity section after the October 11 treasury stock purchase. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare journal entries to record the following transactions for Sherman ems. a. Purchased 6,400 shares of its own common stock at $39 per share on October 11. b. Sold 1,350 treasury shares on November 1 for $45 cash per share. c. Sold all remaining treasury shares on November 25 for $34 cash per share. Show less No Transaction General Journal Credit Debit 249,600 > 1 Treasury stock Cash 249.000 2 b Cash 60.750 52,650 Treasury stock Paid-in capital, treasury stock 8,100 3 c Cash Paid-in capital, treasury stock Paid-in capital, treasury stock >>X 171,700 8,100 198,950 Answer is not complete. 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 Treasury stock xls 860,000 286,000 Common stock, $10 par Total contributed capital Retained earnings 1,146,000 978,000 2,122,000 Total Less: Cost of treasury stock Total stockholders' equity 249,600 $ 1.872,400