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Alexander Corporation reports the following components of stockholders equity on December 31, 2013:

Common stock$25 par value, 70,000 shares authorized, 44,000 shares issued and outstanding		$	1,100,000
Paid-in capital in excess of par value, common stock			88,000
Retained earnings			389,000
Total stockholders equity		$	1,577,000

In year 2014, the following transactions affected its stockholders equity accounts.

Jan.	2	Purchased 4,400 shares of its own stock at $25 cash per share.
Jan.	7	Directors declared a $1.50 per share cash dividend payable on Feb. 28 to the Feb. 9 stockholders of record.
Feb.	28	Paid the dividend declared on January 7.
July	9	Sold 1,760 of its treasury shares at $30 cash per share.
Aug.	27	Sold 2,200 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 September 23 stockholders of record.
Oct.	22	Paid the dividend declared on September 9.
Dec.	31	Closed the $66,000 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 2014. 2. Prepare a statement of retained earnings for the year ended December 31, 2014. (Amounts to be deducted should be indicated by a minus sign.) 3. Prepare the stockholders equity section of the companys balance sheet as of December 31, 2014. (Amounts to be deducted should be indicated by a minus sign.)

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