Homework a Kohler Corporation reports the following components of stockholders' equity at December 31, 2019, Common stock-$15 par value, 100,000 shares authorized, se,eee shares issued and outstanding Paid-in capital in excess of par value, conmon stock Retained earnings Total stockholders' equity $750, eee 80,000 370,000 $1,200, eee During 2020, the following transactions affected its stockholders' equity accounts. Jan. 2 Purchased 5,000 shares of its own stock at $15 cash per share. Jan 5 Directors declared $2 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 1,875 of its treasury shares at $19 cash per share. Aug 22 Sold 3,125 of its treasury shares at $12 cash per share. Sept. 5 Directors declared a $2 per share cash dividend payable on October 23 to the September 25 stockholders of record. Dec 31 Closed the $428,000 credit balance (from net income) in the Income Summary account to Retained tarnings Required: 1. Prepare journal entries to record each of these transactions 2. Prepare a statement of retained earnings for the year ended December 31, 2020 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2020, 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. View transaction list Journal entry worksheet 2 3 4 5 6 7 8 Record the purchase of 5.000 shares of its own common stock for $15 cash per share