please help with alk parts
Exercise 1124 (Algo) Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Alex Corporation reports the following components of stockholder's' equity at December 31 of the prior year: During the current year, the following transactions affected its stockholders' equity accounts. January 2 Purchased 3,600 shares of its own stock at $25 cash per share. January 7 Directors declared a $1.50 per share cash dividend payable on February 28 to the February 9.5 tackholders of February 28 Paid the dividend declared on January 7. July 9 Sold 1,440 of its treasury shares at $30 cash per share. August 27 5old 1,800 of its treasury shares at $21 cash per share. Septenber 9 Directors declared a $2 per share cash dividend payable on October 22 to the 5 eptenber 23 stockholders of october 22 Paid the dividend declared on September 9. Decenter 31 Closed the $58,000 credit balance (from bet incone) in the Incone Sumary account to Retained Earnings. Required: 1. Prepare journal entries to record each of these transactions: 2. Prepare a statement of retained earnings for the current year ended December 31 . 3. Prepare the stockholders' equity section of the balance sheet as of December 31 of the current year. Complete this question by entering your answers in the tabs below. \begin{tabular}{|c|c|c|c|c|c|} \hline 1 & January 02 & Treasury stock, common & 2 & 90,000 & \\ \hline & & Cash & ( & & 90,000 \\ \hline \multirow[t]{2}{*}{2} & January 07 & Retained earnings & 0 & 54,000 & \\ \hline & & Common dividend payable & 0 & & 54,000 \\ \hline \multirow[t]{2}{*}{3} & February 28 & Common dividend payable & 0 & 54,000 & \\ \hline & & Cash & 0 & & 54,000 \\ \hline \multirow[t]{2}{*}{4} & July 09 & Cash & 0 & 43,200 & \\ \hline & & Treasury stock, common & 0 & & 43,200 \\ \hline \multirow[t]{2}{*}{5} & August 27 & Cash & 0 & 37,800 & \\ \hline & & Paid-in capital, treasury stock & 0 & & 37,800 \\ \hline \multirow[t]{2}{*}{6} & September 09 & Retained earnings & 0 & 72,000 & \\ \hline & & Common dividend payable & 0 & & 72,000 \\ \hline \multirow[t]{2}{*}{7} & October 22 & Cmmon dividend payable & 0 & 72,000 & \\ \hline & & Cash & 0 & & 72,000 \\ \hline \multirow[t]{2}{*}{8} & December 31 & Income summary & 0 & 58,0000 & \\ \hline & & Retained earnings & 0 & & 58,000 \\ \hline \end{tabular} Prex 10 of 10 Next Complete this question by entering your answers in the Prepare a statement of retained earnings for the current year er Note: Amounts to be deducted should be indicated by a minus s Complete this question by entering your answers in the tabs below. Prepare the stockholders' equity section of the balance sheet as of December 31 of Note: Amounts to be deducted should be indicated by a minus sign
