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Kohler Corporation reports the following components of stockholders' equlty on December 31, 2017. Common stock-$15 par value, 100,000 shares authorized, 50,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained onrninga Total stockholders' equity $ 750,000 80,000 400,000 $1,230,000 In year 2018, the following transactions affected its stockholders' equity accounts. Jan. Jan. 1 Purchased 5,500 shares of its own stock at $20 cash per share. 5 Directors declared a $2 per share cash dividend payable on February 28 to the February S stockholders of record. Feb. 28 Paid the dividend declared on January 5. July 6 Bold 2,063 of Its treasury shares at $24 cash per whare. Aug. 22 Sold 3,437 of its treasury shares at $17 cash per share. Sept. 5 Directoro declared a $2 per share cash dividend payable on October 28 to the September 25 stockholdern of record. Oct. 28 Paid the dividend declared on September 5. Dee. 31 Closed the $360,000 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 View transaction list Journal entry worksheet Record the purchase of 5,500 shares of its own common stock for $20 cash per share. Note: Enter debits before credits. Date General Journal Debit Credit Jan 01 Record entry Clear entry View general Journal Journal entry worksheet Record the declaration of a cash dividend of $2 per share. Note: Enter debits before credits. Date General Journal Debit Credit Jan 05 Record entry Clear entry View general Journal Record the payment of the cash dividend. Note: Enter debits before credits. Date General Journal Debit Credit Feb 28 Record entry Clear entry View general journal View transaction list Journal entry worksheet Record the reissue of 3,437 shares of the treasury stock for $17 cash per share. Note: Enter debits before credits. Date General Journal Debit Credit Aug 22 Record entry Clear entry View general Journal View transaction list Journal entry worksheet Record the declaration of a cash dividend of $2 per share. Note: Enter debits before credits. General Journal Debit Credit Date Sep 05 Record entry Clear entry View general Journal Journal entry worksheet Record the payment of the cash dividend. Note: Enter debits before credits Date General Journal Debit Credit Oct 28 Record entry Clear entry Vlew general Journal Journal entry worksheet Required 1 Required 2 Required 3 Prepare the stockholders' equity section of the company's balance she KOHLER CORPORATION Stockholders' Equity Section of the Balance Sheet December 31, 2018 Total contributed capital 0 Total stockholders' equity $ 0

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