Kohler Corporation reports the following components of stockholders' equity at December 31, 2019 Common stock-$15 par value, 100,000 shares authorized, 45,000 shares issued and outstanding Paid-in capital in excess of par value, common stock. Retained earnings Total stockholders' equity $675,000 70,000 430,000 $ 1,175,000 During 2020, the following transactions affected its stockholders' equity accounts. January 2 Purchased 5,000 shares of its own stock at $15 cash per share. January 5 Directors declared a $4 per share cash dividend payable on February 28 to the February 5 stockholders of record. February 28 Paid the dividend declared on January 5, July 6 Sold 1,875 of its treasury shares at $19 cash per share. August 22 Sold 3,125 of its treasury shares at $12 cash per share. September 5 Directors declared a $4 per share cash dividend payable on October 28 to the September 25 stockholders of record. October 28 Pald the dividend declared on September 5.1 December 31 Closed the $368,000 credit balance (from net income) in the Income Summary account to Retained Earnings. Required: 1. Prepare journal entries to record each of these transactions. 2. Prepare a statement of retained earnings for the year ended December 31, 2020 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2020. D D