1. Prepare journal entries to record each of these transactions for 2017. 2. Prepare a statement of retained earnings for the year ended December 31, 2017. 3. Prepare the stockholders' equity section of the companys balance sheet as of December 31, 2017.

Chapter 13: Homework Problems Saved Help Save & Exit Submit Check my work Kohler Corporation reports the following components of stockholders' equity on December 31, 2016 Common stock-$1e par value, 10a,600 shares authorized 50,080 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity 500,000 78,00e 488.080 points 978,000 eBook Print In year 2017, the following transactions affected its stockholders equity accounts. an. 1Purchased 4,500 shares of its own stock at $20 cash per share an 5Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of record Feb. 28 Paid the dividend declared on January 5 uly 6Sold 1,688 of its treasury shares at $24 cash per share Aug. 22 Sold 2,812 of its treasury shares at $17 cash per share Sept. 5Directors declared a $2 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 $428,90e 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 2017 2. Prepare a statement of retained earnings for the year ended December 31. 2017 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2017. Mc KPre 8 of 9 Next>