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Kohler Corporation reports the following components of stockholders' equity at December 31, 2018. Common stock-$20 par value, 100,000 shares authorized, 55,000 shares issued and outstanding $1, 100, 000 Paid-in capital in excess of par value, common stock 80, 000 Retained earnings 400,000 Total stockholders' equity $1, 580, 000 During 2019, the following transactions affected its stockholders' equity accounts. Jan. Jan . 2 Purchased 6,000 shares of its own stock at $20 cash per share. 5 Directors declared a $6 per share cash dividend payable on February 28 to the February 5 stockholders of record. Feb . July 28 Paid the dividend declared on January 5. 6 Sold 2,250 of its treasury shares at $24 cash per share. Aug . Sept. 22 Sold 3,750 of its treasury shares at $17 cash per share. 5 Directors declared a $6 per share cash dividend payable on October 28 to the September 25 stockholders of record. Oct . Dec. 28 Paid the dividend declared on September 5. 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. 2. Prepare a statement of retained earnings for the year ended December 31, 2019. 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2019. x Answer is not complete. 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. No Date General Journal Debit Credit Jan 02 Treasury stock, Common 120,000 Cash 120,000 2 Jan 05 Retained earnings O 564,000 X Common dividend payable 564,000 X 3 Feb 28 Common dividend payable O 564,000 X Cast 564,000 x Jul 06 Cash 54,000 Treasury stock, Common 45,000 Paid-In capital, Treasury stock 9,000 Aug 22 Cash O 63,750 Paid-In capital, Treasury stock O 9,000 Retained earnings 2,250 Treasury stock, Common 75,000 6 Sep 05 Organization expenses 600,000 x Common dividend payable 600,000 X Oct 28 Common dividend payable 600,000 X Cash 600,000 x 8 Dec 31 Income summary 368,000 Retained earnings 368,000 Required 1 Required 2 >