1 Problem 13-2A Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Kohler Corporation reports the following components of stockholders' equity on December 31, 2016: Skipped Common stock-$10 par value, 100.000 shares authorired, 50,000 shares issued and outstanding Paid-in capital in excess of par value, connon stock Retained earnings Total stockholders equity 500,000 70,000 430,000 1,000,000 In year 2017, the following transactions affected its stockholders' equity accounts 1 Purchased 4,000 ahares of its ovn stock at $25 cash per share. Jan. 5 Directors declared a $4 per ahare cash dividend payable on February 28 to the February 5 stockholders of reeord. 28 Paid the dividend declared on January 5 6 Sold 1.500 of its treasury shares at $29 cash per share. Jan. Feb. July 22 Sold 2, 500 of its treasury ehares at $22 cash per share. Sept. 5 Direetors declared a $4 per share cash dividend payable on october 28 to the Septenber 25 atockholders of Aug record. Oct. 28 Paid the dividend declared on September 5 Dec. 31 Closed the $428,000 eredit balance (from net ineome) in the Incone Sunnary 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 Complete this question by entering your answers in the tabs below Required 1 Required 2 Required 3 Prepare journal entries to record each of these transactions for 2017