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Kohler Corporation reports the following components of stockholders' equity on December 31, 2015 Common stock-$15 par value, 100,000 shares authorized, 55,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity 825,000 60,000 400,000 $1,285,000 In year 2016, the following transactions affected its stockholders' equity accounts. Jan Purchased 4,000 shares of its own stock at $15 cash per share. Jan. 5 Directors declared a $4 per share cash dividend payable on Feb. 28 to the Feb. 5 stockholders of record. Feb. 28 Paid the dividend declared on January 5. July 6Sold 1,500 of its treasury shares at $19 cash per share. Aug 22 Sold 2,500 of its treasury shares at $12 cash per share. Sept. 5 Directors declared a $4 per share cash dividend payable on October 28 to the September 25 stockholders of record. Oct. 28 Paid the dividend declared on September 5. Dec. 31 Closed the $388,000 credit balance (from net income) in the Income Summary account to Retained Earnings. 2. Prepare a statement of retained earnings for the year ended December 31, 2016 (Amounts to be deducted should be indicated by a minus sign.) KOHLER CORPORATION Statement of Retained Earnings For Year Ended December 31, 2016 Retained earnings, Dec. 31, 2015 Less: Cash dividends declared 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2016. KOHLER CORPORATION Stockholders Equity Section of the Balance Sheet December 31, 2016 Total contributed capital Total stockholders' equity 0

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