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Alex Corporation reports the following components of stockholders' equity at December 31 of the prior year. During 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 record. February 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. September 9 Directors declared a \$2 per share cash dividend payable on October 22 to the September 23 stockholders o record. October 22 Paid the dividend declared on September 9. December 31 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. 2. Prepare a statement of retained earnings for the current year ended December 31. 3. Prepare the stockholders' equity section of the balance sheet as of December 31 of the current year. Complete this question by entering your answers in the tabs below. Prepare journal entries to record each of these transactions. Journal entry worksheet Record the purchase of 3,000 shares of its own common stock for $25 cash per share. Note: Enter debits before credits. February 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 1,50e of its treasury shares at $21 cash per share. September 9 Directors declared a $2 per share cash dividend payable on October 22 to the September 23 stockholders of record. October 22 Paid the dividend declared on September 9 . December 31 Closed the $52,060 credit balance (from net income) in the Incone Summary account to Retained Earnings. Required: 1. Prepare journal entries to record each of these transactions. 2. Prepare a statement of retained earnings for the current year ended December 31 . 3. Prepare the stockholders' equity section of the balance sheet as of December 31 of the current year. Complete this question by entering your answers in the tabs below. Prepare a statement of retained eamings for the current year ended December 31 . (Amounts to be deducted should be indicated by a minus sign.) During 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. February 28 Paid the dividend declared on January 7. July 9 sold 1,200 of 1 ts treasury shares at $30 cash per share. August 27 Sold 1,500 of its treasury shares at 521 cash per share. september 9 Directors declared a $2 per share cash dividend payable on October 22 to the Septenber 23 stockholders of october 22 Paid the dividend dectared on Septenber 9. Decenber 31 closed the $52,000 credit balance (from net incose) in the Income Suneary account to Retained Earnings. Required: 1. Prepare journal entries to record each of these transactions. 2. Prepare a statement of retained earnings for the current year ended December 31 . 3. Prepare the stockholders' equity section of the balance sheet as of December 31 of the current year. Complete this question by entering your answers in the tabs below. Prepare the stockholders' equity section of the balance sheet as of December 31 of the current year. (Amounts to be deducted should be indicated by a minus sign.)