In Draco Corporation's first year of business, the following transactions affected its equity accounts - Issued 7.400 shares of $2 par value common stock for $52 it authorized 20.000 shares - Issued 1,850 shares of 12%,$10 par value preferred stock for $57 it outhorized 3,000 shares - Reacquired 370 shares of common stock for $64 each. - Retained earnings is impacted by reported net income of $84,000 and cash dividends of $32.000 Prepare the stockholders' equity section of Draco's balance sheet as of December 31 . (Amounts to be deducted should be indicated by a minus sign.) Kinkaid Company was incorporated at the beginning of this year and had a number of transactions. The following joumal entries impocted its stockholders' equity during its first year of operations Required: 2. How many shares of common stock ore outstanding at year-end? 3. What is the total paidan capital at yeor-end? Kohlor Corporafon reports tho following congenents of stockholdeis' couity at becember at of the prior year Pald-in rapital in nocets of par valie, coemen vted Netaines earnifiss Tetal ateckolderis' egity During the curtent yoac the following transactions affected is stockholders equaty accounts 3akury 2 Parchand s, oos sharrs of its torn vtodk of 115 cah roe ware Februpe 21 Fald the divident declared on January 5 . Juiy 6 Sold 2,00 of its treasury shares of 319 canh per shore. Mueve 22 Sold 2 , 009 of its tremsury shares ot 511 cah pee share Oetuber 2b Paid the dividend declared an Septeaber. S. Required: 1. Prepare journal entries to record each of these tronsactions. 2. Prepare a statement of rotained eamings toe the curterit year endod December 31 3. Progare the stockholder' equity section of the balonce sheet as of December 31 of the curtent year Conglete this question try entering your answers in the tabs below. Hrepare joumsilentries to recoed eadi of these transections. Journal entry worksheet 234561 Record the purchase of 4,000 shares of its over comman sock for $15 cath per share. Kohler Corporation reports the following components of stocknoldets equity at Docembet 31 of the prior year: Comnon stock-515 par yalue, 100, 000 shares muthorized, 50, 000 chares issued and outstandine Pale-in capital in excess of par value, comene stock Retalned earnings Total stockholdors" equity During the current year, the following transactions affected its stockholders' equity accounts January 2 Purchased 4,000 shares of its an stock at 515 canh per share. January 5 oirectors declared a $4 per share cash divisend payable en Frbiruary 28 to the february 5 stockholdees of record. February 28 Pasd the dividend declared on Jamary 5 . July 6 Sold 2,000 of its treasury shares at 519 cash per share. Acuist 22 Sold 2,000 of lts treasury shares at 511 cash per share. Septenber: 5 Directors declared a 94 per share cash dividend payable on actober 28 to the Septeaber 25 stockholders of record. October 28 Paid the dividend declared on Senteeber 5. Decenber 31 Closed the 5465,000 credit balance (from net incooe) in the Incone Sumary account to sotalied Earnings. Required: 1. Prepare joumal entries to record eoch of these transactions 2. Prepare a statement of retained eamings for the current year ended December 31 3. Prepare the stockholders equity section of the balance sheet os of December 31 of the current yoat Complete this question by entering your answers in the tabs below. Prepare journal entries to record each of these transactions. Journal entry worksheet Note: fiter debits before credits Kohler Corporation reports the following components of stockbolders' equity at December 31 of the prior year Comph steck-\$15 par value, 180 , e00 thares anthorjzed, 90 , bee shares issued and outstanding Paid-in capital in excest of par value, common steek Retained eamings Total stackholders? equity During the current year, the following transactions alfocted ins stockholders' equity accounts Janiary 2. furchased 4, 009 shares of its own stock at \$15 cash per ahare. January 5 birectors declared a 54 per stare rash dividend payable en February 28 to the fobeiary 5 stockholders of recoed Febinary 28 : Pald the dividend declared on Janiary 5. July 5 Sold 2,000 of its treasury shares at 519 cash per share. August 22 Sold 2,000 of its treasury shares at s11 cash per shace. September 5 oirectors declared a 54 per share cash dividend paydble on october 28 to the Septentier 25 stochholders of record. october 28 Pald the dividend declared on Septenber 5 . becenber 31 closed the 5406 , a0e credit balance (froo net ingone) in the Incone Sumrary account to petalned tarnings. Required: 1. Prepare journal entries to record eoch of these transactions 2. Propare a statement of retained earnings for the current year ended December 31 3. Prepare the stockholders' equity section of the balance sheet as of Decembot 31 of the current ycar: Complete this question by entering your answers in the tabs below. Prepore joumal entries to record each of these transactions. Journal entry worksheet Record the ressue of 2,000 shares of the treasury stock for $19 cash per share. Note: Enter detits before credits Kohier Corporation reports the following components of stockholders' equity at December 31 of the prior yeor: Camon stock-515 par value, 100, 094 thares authorized, 50,000 sheres issoed and outstanding Pald: in capital in excess of par value, comon stock Aetained earnines Total storbholders equity Duting the current year, the following transactions affected its stockholders' equity accounts Janiary 2 Purchased 4,000 shares of its oun stock at 515 cask per share. Fethruary 38 Pald the dividend deciared on January 5. July 6 sold 2,000 of its treavury shares at 519 cash per thare. August.22 501d 2,000 of its treavury shares at $11 cash per share. Sepitember 5 oirectors declared a 34 per share cash dividend pyable on Octoben 28 to the Septenber 25 stockholders of record. october 28 Paid the dividend declared on Septeaber 5 . Decenber 31 Closed the 4408,000 credit balance (from net incone) in the Incone Sumary 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. Prepare journal entries to record each of these transactions. Journal entry worksheet