Kohler Corporation reports the following components of stockholders equity at December 31, 2018.

Common stock$20 par value, 100,000 shares authorized, 40,000 shares issued and outstanding	$	800,000
Paid-in capital in excess of par value, common stock		70,000
Retained earnings		460,000
Total stockholders' equity	$	1,330,000

During 2019, the following transactions affected its stockholders equity accounts.

Jan.		2		Purchased 5,500 shares of its own stock at $20 cash per share.
Jan.		5		Directors declared a $6 per share cash dividend payable on February 28 to the February 5 stockholders of record.
Feb.		28		Paid the dividend declared on January 5.
July		6		Sold 2,063 of its treasury shares at $24 cash per share.
Aug.		22		Sold 3,437 of its treasury shares at $17 cash per share.
Sept.		5		Directors declared a $6 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 $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, 2019. 3. Prepare the stockholders equity section of the companys balance sheet as of December 31, 2019.

No	Date	General Journal	Debit	Credit
1	Jan 02	Treasury stock, Common	110,000
		Cash		110,000
2	Jan 05	Retained earnings
		Common dividend payable
3	Feb 28	Common dividend payable
		Cash
4	Jul 06	Cash
		Treasury stock, Common
		Paid-In capital, Treasury stock
5	Aug 22	Cash
		Paid-In capital, Treasury stock
		Retained earnings
		Treasury stock, Common
6	Sep 05	Retained earnings
		Common dividend payable
7	Oct 28	Common dividend payable
		Cash
8	Dec 31	Income summary
		Retained earnings

KOHLER CORPORATION
Statement of Retained Earnings
For Year Ended December 31, 2019
Beginning retained earnings	$460,000
Add: Net income	368,000
	828,000
Less: Cash dividends declared
Less: Treasury stock reissuances
Ending retained earnings	$828,000

KOHLER CORPORATION
Stockholders' Equity Section of the Balance Sheet
December 31, 2019
Common stock - $20 par value	$800,000
Paid-in capital in excess of par value, common stock
Total contributed capital	800,000
Retained earnings
Total stockholders' equity	$800,000