Kendall Company reports the following components of stockholders equity on December 31, 2016:

Common stock$10 par value, 140,000 shares authorized, 60,000 shares issued and outstanding	$	600,000
Paid-in capital in excess of par value, common stock		90,000
Retained earnings		500,000
Total stockholders' equity	$	1,190,000

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

Jan.		1		Purchased 6,000 shares of its own stock at $23 cash per share.
Jan.		5		Directors declared a $2 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 2,300 of its treasury shares at $27 cash per share.
Aug.		22		Sold 3,700 of its treasury shares at $20 cash per share.
Sept.		5		Directors declared a $2 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 $223,000 credit balance (from net income) in the Income Summary account to Retained Earnings. REQUIREMENTS: General Journal tab - Prepare the necessary journal entries. Statement of Retained Earnings tab - Prepare the Statement of Retained Earnings for the Kendall Corporation for the year ended December 31, 2017. Stockholders' Equity tab - Prepare the Stockholders' equity section of Kendall Corporation's December 31, 2017 balance sheet. Impact on Equity tab - For each transaction, indicate the total change in Stockholders' Equity, if any. Verify that total equity, as calculated, agrees with the amount reported on the Stockholders' Equity tab.