Kohler Corporation reports the following components of stockholders' equity at December 31, 2018. Common stock-$15 par value, 100, eee shares authorized, 55,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 825,000 70,000 460,000 $1,355,000 During 2019, the following transactions affected its stockholders' equity accounts. Jan. 2 Purchased 5,000 shares of its own stock at $25 cash per share. Jan. Feb. 5 Directors declared a $6 per share cash dividend payable on February 28 to the February 5 stockholders of m 28 Paid the dividend declared on January 5. July 6 Sold 1,875 of its treasury shares at $29 cash per share. Aug- 22 Sold 3,125 of its treasury shares at $22 cash per share. Sept. Oct. 5 Directors declared a $6 per share cash dividend payable on October 28 to the September 25 stockholders of r 28 Paid the dividend declared on September 5. Dec. 31 Closed the $408,000 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, 2019. 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2019. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 31 Prepare a statement of retained earnings for the year ended December 31, 2019. (Amounts to be deducted should be indicated by a minus sign.) KOHLER CORPORATION Statement of Retained Earnings For Year Ended December 31, 2015 Beginning retained eamings $ 460,000 Add Net Income 408,000 868 000 Less Cash dividends declared (630,000)