Kohler Corporation reports the following components of stockholders' cquity at December 31 of the prior year Common-stock-\$25 par value, 100, 000 shares authorized, 50,000 shares issued and outstanding Paid-in capital in excess of par value, comon stock Retained earnings Total stockholders' equity Duting the current year, the following transactions affected its stockholders equity accounts January 2 purchased 5,000 shares of Its oun stock at $25 cash per share. January 5 pirectors declared o 82 per share cash dividend payoble on February 28 to the February 5 stockholders af record. Eebruary 28 pald the dividend declared on January 5 . 341y6 sold 2,500 of its treasury shares at 529 cash per share. August 22 Sold 2,500 of its treasury shares at $21 cash per share. september 5 Directors declared a 52 per share cash dividend payable on october 28 to the Septenber 25 stockholders of record. october 20 poid the dividend declared on septenber 5 . pecenber 31 closed the s4es, 0e0 credit balance (froe net income) in the Income sumary account to Retained Earnings. Required: 1. Prepare journal entries to record each 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 as of December 31 of the current year. Journal entry worksheet Record the purchase of 5,000 shares of its own common stock for $25 cash per share. Note: Enter debits before credits. Journal entry worksheet 56 Record the declaration of a cash dividend of $2 per share. Note: Enter debits before credits. Journal entry worksheet 1 4 5 Note: Enter debits before credits. Journal entry worksheet. Record the reissue of 2,500 shares of the treasury stock for $29 cash per share. Note: Enter debits before credits. Journal entry worksheet Record the reissue of 2,500 shares of the treasury stock for $21 cash per share. Note: Enter debits before credits. Journal entry worksheet 12 Record the declaration of a cash dividend of $2 per share. Note: Enter debits before credits. Journal entry worksheet Note: Enter debits before credits. Journal entry worksheet Record the entry to close the $408,000 credit balance (from net income) in the Income Summary account to Retained Earnings. 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 . (Amounts to be deducted thould be indicated by a minus sign.) Prepare the stockholders' equity section of the balance sheet as of December 31 of the current year