Kohler Corporation reports the following components of stockholders' equity at December 31, 2018. Common stock-$15 par value, 100,000 shares authorized, 55,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings $ 825,000 60,000 370,000 Total stockholders' equity $1,255,000 During 2019, the following transactions affected its stockholders' equity accounts. 2 Purchased 5,500 shares of its own stock at $20 cash per share. 5 Directors declared a $4 per share cash dividend payable on February 28 to the February 5 stockholders of record. 28 Paid the dividend declared on January 5. 6 Sold 2,063 of its treasury shares at $24 cash per share. 22 Sold 3,437 of its treasury shares at $17 cash per share. 5 Directors declared a $4 per share cash dividend payable on October 28 to the September 25 stockholders of record. 28 Paid the dividend declared on September 5. 31 Closed the $388,000 credit balance (from net income) in the Income Summary account to Retained Earnings. Jan. Jan. Feb. July Aug. Sept. Oct. Dec. Required: 1. Prepare journal entries to record each of these transactions. 2 Prepare a statement of retained earnings for the year ended December 31, 2019. 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2019.

Halverstein Company's outstanding stock consists of 8.400 shares of cumulative 5% preferred stock with a $10 par value and 3.600 shares of common stock with a $1 par value. During the first three years of operation, the corporation declared and paid the following total cash dividends Dividends Declared & Paid $ B $ 7,200 $33,000 Year 1 Year 2 Year 3 The amount of dividends paid to preferred and common shareholders in Year 2 is: Multiple Choice 53,600 preferred: $3,600 common $7.200 preferred, 50 common Multiple Choice $3,600 preferred: $3,600 common $7.200 preferred, $0 common $0 preferred, $7,200common. $5,040 preferred: $2,160 common $4,200 preferred: $3,000 common