A bit confused in 2 and 3. Thanks!
Kohler Corporation reports the following components of stockholders' equity on December 31, 2016: Common stock-$15 par value, 100, 200 shares authorized, 58,800 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 750, eee 70,000 430, eee $1,250, eee In year 2017, the following transactions affected its stockholders' equity accounts Jan. 1 Purchased 6,000 shares of its own stock at $20 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 2,25e of its treasury shares at $24 cash per share. Aug. 22 Sold 3,75% of its treasury shares at $17 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 $428,eee 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 vear ended December 21 2017 Required 1 Required 2 Required 3 Prepare a statement of retained earnings for the year ende indicated by a minus sign.) KOHLER CORPORATION Statement of Retained Earnings For Year Ended December 31, 2017 Retained earnings, Dec. 31, 2016 $ 430,000 Add: Net income 428,000 858,000 Less: Cash dividends declared Less: Treasury stock reissuances (11,250) Retained earnings, Dec. 31, 2017 846,750 www Compieles queBLIVIT DY cilenmiy yuui VLIJM LIU LUDU Required 1 Required 2 Required 3 Prepare the stockholders' equity section of the company's balance sheet as of D KOHLER CORPORATION Stockholders' Equity Section of the Balance Sheet December 31, 2017 Total contributed capital ol Total stockholders' equity $ 0