Bad Ch 11 Homework 3 Kohler Corporation reports the following components of stockholders' equity on December 31, 2017 25 po Comon stock-$15 par valve, 100,000 shares authorized 45,000 shares issued and outstanding Paid in capital in excess of par value, common stock Retained earnings Total stockholders equity S675,000 841,000 460.000 $1,215,000 cBook re In year 2018, the following transactions affected its stockholders equity accounts Jan. 1 Purchased 6,000 shares of its own stock at $15 cash per share Jan. 5 Directors declared a 54 per share cash dividend payable on February 28 to the February 5 stockholders of record. Feb 20 Paid the dividend declared on January 5. July 6 Sold 2,258 of its treasury shares at $19 cast per share 22 Sold 1,759 of its treasury shares at $12 cash per share Segit 5 Directors declared a 34 per Share cash dividend payable on October 28 to the September 25 stockholders of record Oct 78 Paid the dividend declared on September 5. Doc. Closed the $168,000 credit balance Ofron 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 Complete this question by entering your answers in the tabs below