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On October 10, the stockholders' equity of Sherman Systems appears as follows. Common stock-$10 par value, 86,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 860,000 286,000 976,000 $2,122,000 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 Answer is not complete. Transaction General Journal Debit Credit Treasury stock 249,600 Cash 249,600 b. Cash 80,750 Treasury stock Paid-in 52,650 capital, treasury stock 8,100 Paid-in capital, treasury stock Retsined earnings Treasury stock 171,700 8,100 17,150 C. 196,950 2. Prepare the revised equity section of its balance sheet after the October 11 treasury stock purchase 3 Answer is not complete. ised Equity Section of Balance Sheet After October 11 Common stock, $10 par Paid-in capital in excess of par value, common stock Total contributed capital Retained eanings Total Less: Cost of treasury stock Total stockholders equity $ 860,000 288,000 1.146,000 958,850 2,104,850 $ 2.104,850