On October lO. the stockholders' equity of Sherman Systems appears as follows: Common stock-$10 par value, 72,000 shares authorized, issued, and Outstanding ... . .. $ 720,000 Paid-in capital in excess of par value, common stock 216,000 Retained earnings .......... 864,000 Total stockholders' equity ............ $ 1,800,000 1. Prepare journal entries lo record the following transactions for Sherman Systems. a. Purchased 5000 shares of its own common stock at $25 per share on October 11. b. Sold 1000 treasury shares on November 1 for $31 cash per share. c. Sold all remaining treasury shares on November 25 for $20 cash per share. 2. Explain how the company?s equity section changes alter the October 11 treasury stock purchase, and prepare the revised equity section of its balance sheet at that date