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Kohler Corporation reports the following components of stockholders equity on December 31, 2017.

Common stock$15 par value, 100,000 shares authorized, 45,000 shares issued and outstanding	$	675,000
Paid-in capital in excess of par value, common stock		60,000
Retained earnings		370,000
Total stockholders' equity	$	1,105,000

In year 2018, the following transactions affected its stockholders equity accounts.

Jan.		1		Purchased 5,000 shares of its own stock at $25 cash per share.
Jan.		5		Directors declared a $6 per share cash dividend payable on February 28 to the February 5 stockholders of record.
Feb.		28		Paid the dividend declared on January 5.
July		6		Sold 1,875 of its treasury shares at $29 cash per share.
Aug.		22		Sold 3,125 of its treasury shares at $22 cash per share.
Sept.		5		Directors declared a $6 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 Kohler Corporation reports the following components of stockholders' equity on December 31, 2017 Common stock-$15 par value, 100,000 shares authorized, 45, eee shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 675, eee 60, eee 37e, eee $1,105, eee In year 2018, the following transactions affected its stockholders' equity accounts. Jan. Jan. Feb. July Aug. Sept. Oct. Dec. 1 Purchased 5,000 shares of its own stock at $25 cash per share. 5 Directors declared a $6 per share cash dividend payable on February 28 to the February 5 stockholders of record. 28 Paid the dividend declared on January 5. 6 sold 1,875 of its treasury shares at $29 cash per share. 22 sold 3,125 of its treasury shares at $22 cash per share. 5 Directors declared a $6 per share cash dividend payable on October 28 to the September 25 stockholders of record. 28 Paid the dividend declared on September 5. 31 Closed the $388,000 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 2018. 2. Prepare a statement of retained earnings for the year ended December 31, 2018. 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2018. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a statement of retained earnings for the year ended December 31, 2018. (Amounts to be deducted should be indicated by a minus sign.) KOHLER CORPORATION KOHLER CORPORATION Statement of Retained Earnings Stockholders' Equity Section of the Balance Sheet For Year Ended December 31, 2018 December 31, 2018 0 Total contributed capital 0 Total stockholders' equity S 0 IS 0

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