Accounting help

Kohler Corporation reports the following components of stockholders' equity on December 31, 2013: Common stock$15 par value, 100,000 shares authorized, 40,000 shares issued and outstanding $ 600,000 80,000 430,000 $ 1,110,000 Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity In year 2014, the following transactions affected its stockholders' equity accounts. Jan. 1 Purchased 4,500 shares of its own stock at $20 cash per share. Jan. 5 Directors declared a $4 per share cash dividend payable on Feb. 28 to the Feb. 5 stockholders of record. Feb. July Aug. Sept. 28 6 22 5 Paid the dividend declared on January 5. Sold 1,688 of its treasury shares at $24 cash per share. Sold 2,812 of its treasury shares at $17 cash per share. Directors declared a $4 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 $368,000 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 2014 . 2. Prepare a statement of retained earnings for the year ended December 31, 2014. (Amounts to be deducted should be indicated by a minus sign.) 3. Prepare the sto company's bala 2014