I do not understand why this is wrong and how to complete 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 gt

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I do not understand why this is wrong and how to complete  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  gt

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I do not understand why this is wrong and how to complete. Kohler Corporation reports the following components of stockholders' equity at December 31, 2018.

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