how to complete this journal entry for required 1-3.

Chapter 11 Homework A Saved 2 Kohler Corporation reports the following components of stockholders' equity at December 31 of the prior year. 10 points Common stock-$10 par value, 100, eee shares authorized, 40, 80 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 480,000 60,000 279, eee $ 730, eee During the current year, the following transactions affected its stockholders' equity accounts. eBook Print . References January 2 Purchased 4,000 shares of its own stock at $20 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 2,000 of its treasury shares at $24 cash per share. August 22 Sold 2, 80e of its treasury shares at $16 cash per share. September 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 3388,888 credit balance (from net income) in the Income Summary account to Retained Earnings. Required: 1. Prepare journal entries to record each of these transactions 2. Prepare a statement of retained earnings for the current year ended December 31 3. Prepare the stockholders' equity section of the balance sheet as of December 31 of the current year. 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 View journal entry worksheet No Date Debit General Journal Treasury stock Common Cash Credit January 02 80,000 80,000 2 January 05 Retained earnings Common dividend payable 1.520,000 70.000 3 February 28 Common dividend payable MC Graw Chapter 11 Homework A Saved 2 Kohler Corporation reports the following components of stockholders' equity at December 31 of the prior year. 10 points Common stock-$10 par value, 100, eee shares authorized, 40, 80 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 480,000 60,000 279, eee $ 730, eee During the current year, the following transactions affected its stockholders' equity accounts. eBook Print . References January 2 Purchased 4,000 shares of its own stock at $20 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 2,000 of its treasury shares at $24 cash per share. August 22 Sold 2, 80e of its treasury shares at $16 cash per share. September 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 3388,888 credit balance (from net income) in the Income Summary account to Retained Earnings. Required: 1. Prepare journal entries to record each of these transactions 2. Prepare a statement of retained earnings for the current year ended December 31 3. Prepare the stockholders' equity section of the balance sheet as of December 31 of the current year. 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 View journal entry worksheet No Date Debit General Journal Treasury stock Common Cash Credit January 02 80,000 80,000 2 January 05 Retained earnings Common dividend payable 1.520,000 70.000 3 February 28 Common dividend payable MC Graw