Kohler Corporation reports the following components of stockholders' equity at December 31 of the prior year. Common stock-$10 par value, 100,000 shares authorized, 55,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity During the current year, the following transactions affected its stockholders' equity accounts. January 2 January 5 February 28 July 6 Purchased 5,000 shares of its own stock at $20 cash per share. $550,000 60,000 430,000 $ 1,040,000 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of record, Paid the dividend declared on January 5. Sold 2,500 of its treasury shares at $24 cash per share. Sold 2,500 of its treasury shares at $16 cash per share. August 22 September 5 Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record. October 28 Paid the dividend declared on September 5. December 31 Closed the $400,000 credit balance (from net income) in the Income Summary account to Retainer Earnings. Required: 1. Prepare journal entries to record each of these transactions. 2. Prepare a statement of retained earnings 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. Complete this question by entering your answers in the tabs below. Prepare a statement of retained earnings for the current year ended December 31. B. Prepare the stockholders' equity section of the balance sheet as of December 31 of the current ye Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a statement of retained earnings for the current year ended December 31. (Amounts to be deduct indicated by a minus sign.) KOHLER CORPORATION Statement of Retained Earnings For Current Year Ended December 31 < Required 1 Required 3 > 2. Prepare a statement of retained earnings for the current year ended December 3 3. Prepare the stockholders' equity section of the balance sheet as of December 31 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Faquired 3 Prepare the stockholders' equity section of the balance sheet as of December 31 of the KOHLER CORPORATION Stockholders' Equity Section of the Balance Sheet December 31 Total contributed capital Total stockholders' equity < Required 2 Required 3 >