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 $ 550,000 Paid-in capital in excess of par value, common stock 70,000 Retained earnings 370.000 Total stockholders' equity $ 990,000 During the current year, the following transactions affected its stockholders' equity accounts. January 2Purchased 4,000 shares of its own stock at $20 cash per share. January 5 Directors declared a $2 per share cash dividend payable on February 23 to the February 5 stockholders of record February 26 Paid the dividend declared on January 5. July Sold 2,000 of its treasury shares at $24 cash per share. August 22 Sold 2,000 of its treasury shares at 516 cash per share September 5 orectors declared a 52 per share cash dividend payable on October 28 to the September 25 stockholders of record October 2 Paid the dividend declared on September 5 December 31 Closed the $388,000 credit balance (from net income in the Incone 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 current year ended December 31 3. Prepare the stockholders' equity section of the balance sheet as of December 31 of the current year. 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. OK Required 1 Required 2 Required 3 Prepare journal entries to record each of these transactions. View transaction list ences Journal entry worksheet 2 3 6 Record the declaration of a cash dividend of $2 per share. Hotel Etec de bits before credits 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 deducted should be indicated by a minus sign.) KOHLER CORPORATION ho Statement of Retained Earnings For Current Year Ended December 31 (Retained earnings, December 31, current year $ 370.000 Add Net income 388,000 Less: Cash dividends declared Retained earnings December 31, prior year $ 758,000 Complete this questi y Y ants Required 1 Required 2 Required 3 eBook Print References Prepare the stockholders' equity section of the balance sheet as of December 31 of the current year. KOHLER CORPORATION Stockholders' Equity Section of the Balance Sheet December 31 Common stock - $10 par value Pald-in capital in excess of par value. common stock Total contributed capital 0 Retained earnings Total stockholders' equity $ ho 0