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

Common stock$10 par value, 4,075 shares authorized, issued, and outstanding	$ 730,000
Paid-in capital in excess of par value, common stock	221,000
Retained earnings	872,000
Total stockholders equity	$ 1,823,000

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

1. Purchased 5,100 shares of its own common stock at $26 per share on October 11.
2. Sold 1,025 treasury shares on November 1 for $32 cash per share.
3. 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.