Recording stock issuances sin exchange foto Prepare journal entries to record each of the 1. A corporation issued 4,000 shares of $5 par value common stock for $35.000 ca 2. A corporation issued 2,000 shares of no-par common stock to its promoters in forts, estimated to be worth $40,000. The stock has a si per share stated value 3. A corporation issued 2,000 shares of no-par common stock to its promoters in a forts, estimated to be worth $40,000. The stock has no stated value. 4. A corporation issued 1,000 shares of $50 par value preferred stock for $60,000 cash is in exchange ation reports the following components of stockholders' equity on December 31, 2016 Alexander Corporatio Common stock-$25 par value, 50.000 shares authorized 30.000 shares issued and outstanding .... Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity .......... $750,000 Exercise 11-18 Cash dividends, trees stock, and statement retained earnings C3 P2 P3 50,000 340.000 $1.140,000 e following transactions affected its stockholders' equity accounts. In year 2017, the followin Jan. 2 Purcha Jan. 7 Direcio Feb. 28 July 9 PA Sold Purchased 3.000 shares of its own stock at $25 cash per share. reciers declared a $1.50 per share cash dividend payable on February 28 to the February 9 stockholders of record. 28 Paid the dividend declared on January 7. O Sold 1.200 of its treasury shares at $30 cash per share 1 Sold 1.507 of its treasury shares at $20 cash per share. o Directo: eclared a $2 per share cash dividende share cash dividend payable on October 22 to the September 23 stockholders of record, Ost. 22 Paid the dividend declared on September 9. Closed the $52,000 credit balance (from net income) in the Income Summary account to Retained Earnings. Required 1. Prepare journal entries to record each of these transactions for 2017. 2. Prepare a statement of retained earnings for the year ended December 31, 2017. 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2017