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Kohler Corporation reports the following components of stockholders' equity at December 31 of the prior year. Comon stock-\$20 par value, 100,600 shares authorized, 45 , e0e shares issued and outstanding Paid-in capital in excess of par value, comon stock Retained earnings Total stockholders' equity During the current year, the following transactions affected its stockholders' equity accounts. January 2 Purchased 5,038 shares of its own stock at $28 cash per share. January 5 Directors declared a $4 per share cash dividend payable on February 28 to the February 5 stockholders of record. February 28 Paid the dividend declared on January 5. July 6 5old 2,500 of its treasury shares at $24 cash per share. August 22 sold 2,500 of its treasury shares at \$16 cash per share. September 5 Directors declared a \$4 per share cash dividend payable on October 28 to the September 25 stockholders of record. October 28 Paid the dividend declared on september 5. Decenber 31 closed the $368,080 credit balance (fron net incone) in the Incone Sumary 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. (x) Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare journal entries to record each of these transactions. Kohler Corporation reports the following components of stockholders' equity at December 31 of the prior year. Common stock-\$20 par value, 100,080 shares authorized, 45,600 shares issued and outstanding Paid-in capital in excess of par value, comon stock Retained earnings Total stockholders' equity During the current year, the following transactions affected its stockholders' equity accounts. January 2 Purchased 5,300 shares of its own stock at $20 cash per share. January 5 Directors declared a $4 per share cash dividend payable on February 28 to the February 5 stockholders of record. February 28 Paid the dividend declared on January 5. July 6 5old 2,500 of its treasury shares at $24 cash per share. August 22 sold 2,500 of its treasury shares at $16 cash per share. September 5 Directors declared a $4 per share cash dividend payable on october 28 to the september 25 stockholders of record. October 28 Paid the dividend declared on september 5. Decenber 31 closed the $368,000 credit balance (from net income) in the Income Sumary 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. * Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare a statement of retained earnings for the current year ended December 31. (Amounts to be deducted should be indicated by a minus sign.)

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