ppease solve part B with proper calculations ..

Q.3) At the beginning of 2017, Dexter, Inc., showed the following amounts in the stockholders' equity section of its balance sheet: (10 Marks) Stockholders' Equity: Capital stock, $1 par value, $ 1,200,000 shares authorized, 500,000 issued and outstanding.... $500,000 Additional Paid-in-capital: capital stock.. 4,480,000 Total Paid-in-capital: capital stock. $4,980,000 Retained Earnings.. 3000,000 Total Stockholders' Equity. .$7,980,000 The transactions relating to stockholders' equity during the year are as follows: Jan 5 Declared a dividend of $2 per share to shareholders of record on Jan 31, payable on Feb 18. Feb 18 Paid the cash dividend declared on January 5. Apr 20 The corporation purchased 2,000 shares of its own capital stock at a price of $10 per share. May 25 Reissued 1000 shares of the treasury stock at a price of $15 per share. Jun 15 Declared a 5% stock dividend to stockholders of record at June 22, to be distributed on June 30. The market price of the stock at June 15 was $12 per share. (The 1000 shares remaining in the treasury stock do not participate in the stock dividend.) Jun 30 Distributed the stock dividend declared on June 15. Aug 12 Reissued 500 of the 1000 remaining shares of treasury stock at a price of $ 9.50 per share. Dec 31 The income Summary account, showing net income for the year of $ 1,700,000, was closed into the Retained Earnings Account. Dec 31 The $1,000,000 balance in the Dividends account was closed into the Retained Earnings Account. Instructions: a. Prepare in general journal form the entries to record the above transactions. b. Prepare the stockholders' equity section of the balance sheet at December 31,2017