Conmon stock-\$10 par value, 10e, e0e shares authorized, 49, e0e shares issued and outstanding Paid-in capital in excess of par value, comon stock Retained carnings Total stockholders' cquity $490,e90660,e90270,e90$730,e90 During the current yesr, the following trensactions affected its stockholders' equity occounts. January 2 Purchased 4, Ree shares of its own stock at \$28 cash per share. January 5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of record. February 28 Paid the dividend declared on January 5. July 6 sold 2,6e0 of its treasury shares at $24 cash per share. August 22 sold 2,000 of its treasury shares at $16 cash per share. September 5 Directors declared a $2 per share cash dividend payable on detober 28 to the 5eptember 25 stockholders of record. October 28 Paid the dividend declared on September 5. December 31 closed the $388, 090 credit balance (from net incone) in the Incone Sumnary account to Retained Earnings. Requlred: 1. Prepore joumal entries to record esch of these tronssctions. 2. Prepore a statement of retained earnings for the current year ended December 31 . 3. Prepare the stockholders' equity section of the bolance sheet 8s of December 31 of the current year. Complete this question by entering your answers in the tabs below. Prepare joumal entries to record each of these transactions. Journal entry worksheet 2345678> Record the purchase of 4,000 shares of its own common stock for 520 cash per share. Note: Enter debits befare credits. Kohler Corporstion reports the following components of stockholders' equity at December 31 of the prior year. Common stock-\$10 par value, 16e, e0e shares authorizcd, 46, e9e shares issucd and outstanding Paid-in capital in excess of par value, comon stock Retained carnings Total stockholders' equity During the current yeer, the following trensactions affected its stockholders' equity occounts. January 2 Purchased 4, eee shares of its own stock at \$2e cash per share. January 5 Directors declared a $2 per share cash dividend payable on February 28 to the february 5 stockholders of record. February 28 Paid the dividend declared on January 5. July 6 sold 2 , eee of its treasury shares at $24 cash per share. August 22 sold 2,00 of its treasury shares at $16 cash per share. septenber 5 Dircctors declared a $2 per share cash dividend payable on october 28 to the september 25 stockholders of record. October 28 Paid the dividend declared on September 5. December 31 Closed the $388, ea eredit balance (from net incone) in the Incone Sumnary account to Retained Earnings. Required: 1. Prepore joumsl entries to record esch of these tronssctions. 2. Prepore a statement of retained earnings for the current year ended December 31 . 3. Prepare the stockholders' equity section of the bolance sheet as of December 31 of the current year. Complete this question by entering your answers in the tabs below. Prepare a statement of retained eamings for the current year ended December 31. (Amounts to be deducted should be indicated by a minus sign.) Kohler Corporstion reports the following components of stockholders' equity at December 31 of the prior year. Cormon stock-\$10 par value, 19e, e9e shares authorizcd, 4e, e9e shares issued and outstanding Paid-in capital in excess of par value, comon stock Retained carnings Total stockholders' equity During the current yeor, the following trensactions sffected its stockholders' equity occounts. January 2 Purchased 4, eee shares of its own stock at $2 cash per share. January 5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of record. February 28 Paid the dividend declared on January 5. July 6 sold 2, eee of its treasury shares at $24 cash per share. August 22 sold 2,ee0 of its treasury shares at $16 cash per share. septenber 5 Directors declared a $2 per share cash dividend payable on october 28 to the september 25 stockholders of record october 28 Paid the dividend declared on September 5. December 31 Closed the $388, eeg credit balance (from net incone) in the Incone Sumrary account to Retained Earnings. Required: 1. Prepore journal entries to record esch of these tronsactions. 2. Prepore a stetement of retained earnings for the current year ended December 31 . 3. Prepare the stockholders' equity section of the bolance sheet as of December 31 of the current year. Complete this question by entering your answers in the tabs below. Prepare the stockholders' equity section of the balance sheet as of December 31 of the current year