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Kohler Corporation reports the following components ofstockholders’ equity at December 31, 2018.

Common stock—$15 par value, 100,000 shares authorized, 55,000 shares issued and outstanding	$	825,000
Paid-in capital in excess of par value, common stock		60,000
Retained earnings		400,000
Total stockholders' equity	$	1,285,000

During 2019, the following transactions affected itsstockholders’ equity accounts.

Jan.		2		Purchased 5,500 shares of its own stock at $20 cash pershare.
Jan.		5		Directors declared a $4 per share cash dividend payable onFebruary 28 to the February 5 stockholders of record.
Feb.		28		Paid the dividend declared on January 5.
July		6		Sold 2,063 of its treasury shares at $24 cash per share.
Aug.		22		Sold 3,437 of its treasury shares at $17 cash per share.
Sept.		5		Directors declared a $4 per share cash dividend payable onOctober 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 theIncome Summary account to Retained Earnings.

Required:
1. Prepare journal entries to record each of thesetransactions.
2. Prepare a statement of retained earnings forthe year ended December 31, 2019.
3. Prepare the stockholders’ equity section of thecompany’s balance sheet as of December 31, 2019.