0 You skipped this question in the previous attempt Exercise 11-18 Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Alexander Corporation reports the following components of stockholders' equity on December 31, 2016: Common stock-$25 par value, 50,000 shares authorized, 30, 000 shares issued and outstanding Paid-in capital in excoss of par valuo, common atock Retained earnings Total stockholders' equity 750,000 50,000 340, 000 $1,140,000 ces In year 2017, the following transactions affected its stockholders' equity accounts birectora declared a $1.50 per share cash dividend payable on February 28 to the Pebruary 9 stockholders of record. Jan. 2 Purchased 3,000 shares of its own atock at $25 cash per share. Feb. 28 Paid 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 a $2 per share cash dividend payable on October 22 to the record Oct. 22 Paid the dividend declared on September 9. ance (from not income) in the Income Summary accouns to Rotained Karnings. 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 Prev 7.d8 Next >