pped Book Print rences Kohler Corporation reports the following components of stockholders equity at December 31 of the prior year Common stock 10 par value 100 000 shares authorized 45 000 shares issued and outstanding Paid in capital in excess of par value common stock Retained earnings Total stockholders equity During the current year the following transactions affected its stockholders equity accounts January 2 Purchased 4 000 shares of its own stock at 15 cash per share January 5 February 28 July 6 August 22 September 5 Directors declared a 4 per share cash dividend payable on February 28 to the February 5 stockholders of record 450 000 70 000 370 000 890 000 Paid the dividend declared on January 5 Sold 2 000 of its treasury shares at 19 cash per share Sold 2 000 of its treasury shares at 11 cash per share 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 December 31 Closed the 368 000 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 quest Check my work