will repost for part 2/3

Common stock-$25 par value, 5e, 600 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 50,000 340,000 $1,140,000 In year 2017, the following transactions affected its stockholders' equity accounts. Jan. 2 Purchased 3,000 shares of its own stock at $25 cash per share. Jan. 7 Directors declared a $1.50 per share cash dividend payable on February 28 to the February 9 stockholders of record. Feb. 28 Poid the dividend declared on January 7. July 9 Sold 1,200 of its treasury shares at $30 cash per share. Aug 27 Sold 1,500 of its treasury shares at $20 cash per share. Sept. 9 Directors declared $2 per share cash dividend payable on October 22 to the September 23 stockholders of record. 22 Paid the dividend declared on September 9. Dec. 31 Closed the $S2,000 credit balance (from net income) in the lcome Summary account to Retained Earnings. Oct. 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 1 Record the purchase 3,000 shares of its own common stock for $25 cash per share. 2 Record the declaration of a cash dividend of $1.50 per share. 3 Record the payment of the cash dividend declared on January 7. 4 Record the reissue of 1,200 shares of the treasury stock for $30 cash per share. UN 5 Record the reissue of 1,500 shares of the treasury stock for $20 cash per share. 6 Record the declaration of a cash dividend ofhf 2 per share. $2 7 Record the payment of the cash dividend declared on September 9. 8 Record the transfer of the credit balance of $52,000 in the income summary account to the retained earnings account