uring the current year, the following transactions affected its stockholders' equity accounts. January 2 Purchased 3,000 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 stockholders of record. ebruary 28 Paid the dividend declared on January 7. July 9 Sold 1,200 of its treasury shares at $30 cash per share. August 27 Sold 1,500 of its treasury shares at $21 cash per share. eptember 9 Directors declared a $2 per share cash dividend payable on 0ctober 22 to the September 23 stockholders of record. October 22 Paid the dividend declared on September 9. ecember 31 Closed the $52,000 credit balance (from net income) in the Income Summary account to Retained Earnings. equired: Prepare journal entries to record each of these transactions. - Prepare a statement of retained earnings for the current year ended December 31. . Prepare the stockholders' equity section of the balance sheet as of December 31 of the current year