Kohler Corporation reports the following components of stockholders' equity at December 31 of the prior year. \begin{tabular}{l} Common stock- $15 par value, 100,000 shares authorized, 55,000 shares issued and outstanding \\ Paid-in capital in excess of par value, compon stock \\ Retainod earnings \\ \begin{tabular}{l} Total ntockholders' equity 825,000 \\ 70,000 \end{tabular} \\ 400,000 \\ \hline \end{tabular} During the current year, the following transactions affected its stockholders' equity accounts. January 2 purchased 5,000 sharen of its own stock at $20 cash per ahare. February 28 paid the dividend declared on January 5. July 6 sold 2,500 of its treasury shares at $24 cash per share. Auguat 22 sold 2,500 of its treasury shares at $16 cash per share. September $ Directors declared a $4 per share eash dividend payable on oetober 28 to the septenber 25 atoekholdera of Detober 218 pald the dividend declared on September 5. Depenber 31 Closed the $368,000 eredit balance (fron net incose) in the Income Suneary account to Retained farninga. Required: 1. Prepare joumal 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. Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare journal entries to record each of these transactions. 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. Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare a statement of retained earnings for the current year ended December 31. Note: Amounts to be deducted should be indicated by a minus sign. 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 Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare the stockholders' equity section of the balance sheet as of December 31 of the current year