Journal entry worksheet 8 Record the purchase of 4,000 shares of its own common stock for $20cash per share. Note: Enter debits before credits: Complete this question by entering your answers in the tabs below. Prepare a statement of retained earnings for the current year ended December 31 . Note: Amounts to be deducted should be indicated by a minus sign. Complete this question by entering your answers in the tabs below. Prepare the stockholders' equity section of the balance sheet as of December 31 of the current year. Kohler Corporation reports the following components of stockholders equity at December 31 of the prior year: Comson stock- $10 par volue, 100,000 shares authorized, 50 , 006 shares issued end outstanding. Paid-in capital in excess of par value, comon stock Retained earnings Total stockholders' equity During the current year, the following transactions affected its stockhoicers equity accounts Janvary 2 Purchased 4 , 000 shares of its own 150ck at 520 cash per shace. January's Directors declared o 56 per share cash dividend payable on Februany 26 to the februacy 5 stockholders of record. July. 6 Sold 2,000 of les treasury shores ot 324 cosh per share. October 28 . Pald the declared a 56 pec shore casb dividend phyoble on october 28 to the september 25 stockholders of record. Decenden ist closed the 5338 is declared on septenber 5 . Required: 1. Prepare joumal entries to record each of these transactions. 2. Prepare a statement of retained eamings for the current year ended December 34 3. Prepace the stocicholders equity section of the balance sheet as of December 31 of the currentyea