Kinkaid Co. is incorporated at the beginning of this year and engages in a number of transactions. The following journal entries impacted its stockholders equity during its first year of operations. General Journal Debit Credit a. Cash 280,000 Common Stock, $25 Par Value 245,000 Paid-In Capital in Excess of Par Value, Common Stock 35,000 b. Organization Expenses 200,000 Common Stock, $25 Par Value 126,000 Paid-In Capital in Excess of Par Value, Common Stock 74,000 c. Cash 44,000 Accounts Receivable 17,000 Building 81,600 Notes Payable 59,600 Common Stock, $25 Par Value 53,000 Paid-In Capital in Excess of Par Value, Common Stock 30,000 d. Cash 141,000 Common Stock, $25 Par Value 75,000 Paid-In Capital in Excess of Par Value, Common Stock 66,000 Required: 2. & 3. How many shares of common stock are outstanding at year-end? What is the total paid-in capital at year-end? 4. What is the book value per share of the common stock at year-end if total paid-in capital plus retained earnings equals $800,000?

Kohler Corporation reports the following components of stockholders equity on December 31, 2017.

Common stock$25 par value, 100,000 shares authorized, 45,000 shares issued and outstanding	$	1,125,000
Paid-in capital in excess of par value, common stock		70,000
Retained earnings		400,000
Total stockholders' equity	$	1,595,000

In year 2018, the following transactions affected its stockholders equity accounts.

Jan.		1		Purchased 5,500 shares of its own stock at $20 cash per share.
Jan.		5		Directors declared a $6 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 2,063 of its treasury shares at $24 cash per share.
Aug.		22		Sold 3,437 of its treasury shares at $17 cash per share.
Sept.		5		Directors declared a $6 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 $388,000 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 2018. 2. Prepare a statement of retained earnings for the year ended December 31, 2018. 3. Prepare the stockholders' equity section of the companys balance sheet as of December 31, 2018.