In year 2017, the following transactions affected its stockholders equity accounts.

Jan. 1 Purchased 5,000 shares of its own stock at $20 cash per share. Jan. 5 Directors declared a $4 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 $24 cash per share. Aug. 22 Sold 3,125 of its treasury shares at $17 cash per share. Sept. 5 Directors declared a $4 per share cash dividend payable on October 28 to the September 25 stockholders of record. Oct. 28 Paid the dividend declared on September 5. Dec. 31 Closed the $408,000 credit balance (from net income) in the Income Summary account to Retained Earnings.

Required: 1. Prepare journal entries to record each of these transactions for 2017. 2. Prepare a statement of retained earnings for the year ended December 31, 2017. 3. Prepare the stockholders' equity section of the companys balance sheet as of December 31, 2017.

Reporting and Analysis Saved Problem 13-2A Cash dividends, treasury stock, and statement of Kohler Corporation reports the following components of stockholders' equity on Dec Common stock-$10 par value, 100,e00 shares authorized, 55,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders equity 550,000 80,000 $ 430,000 $ 1,060,000 In year 2017, the following transactions affected its stockholders' equity accounts 1 Purchased 5,000 shares of its Own stock at $20 cash per share. Jan. 5 Directors declared a $4 per share cash dividend payable on February 28 to Jan. Feb. 28 Paid the dividend declared on January 5 2uly 6 Sold 1.875 of its treasury shares at $24 cash per share. Prepare journal entries to record each of these transactions for 2017. View transaction list Journal entry worksheet 8 2 3 5 6 7 1 4 Record the purchase of 5,000 shares of its own common stock for $20 cash per share. Note: Enter debits before.credits. Debit Credit General Journal Date 100,000 freasury stock Common Jan 01 100.000 Cash Required I Required 2 Required 3 Prepare journal entries to record each of these transactions for 2017. View transaction list Journal entry worksheet 6 of 11 Prev Required 1 Required 2 Required 3 a statement of retained earnings for the year ended December 31, Prepare indicated by a minus sign.) ts KOHLER CORPORATION Statement of Retained Earnings eBook For Year Ended December 31, 2017 Print ferences 0 $ 0