Kohler Corporation reports the following components of stockholders' equity at December 31, 2018 Common stock-$20 par value, 100,000 shares authorized, 45,000 shares issued and outstanding Paid-in capital in excess of per value, common stock Retained earnings Total stockholders equity $100,000 70,000 400,000 $1,370,000 During 2019, the following transactions affected its stockholders' equity accounts 5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of recind 20 Paid the dividend declared on January 30. 2 Purchased 4,000 shares of its on stock at $15 cash per share. Tan. Feb. July Aug Sept. 6 Sold 1,500 of its treasury shares at 119 cash per share. 22 Sold 2,500 of its treasury shares at $12 cash per share. 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 $388,000 credit balance (from net Income) in the Income Summary account to Retained fermings. 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