Kohler Corporation reports the following components of stockholders' equity at December 31, 2018 Common stock-$10 par value, 100,000 shares authorized, 55,800 shares issued and outstanding Paid in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 550,00 70,000 430,000 $1,050,000 During 2019, the following transactions affected its stockholders' equity accounts Jan. Jan Feb. July Aug Sept. Oct Dec 2 Purchased 4,500 shares of its own stock at $20 cash per share. 5 Directors declared a $4 per share cash dividend payable on February 28 to the February 5 stockholders of record. 28 Paid the dividend declared on January 5. 6 Sold 1,688 of its treasury shares at $24 cash per share. 22 Sold 2,812 of its treasury shares at $17 cash per share. 5 Directors declared a $4 per share cash dividend payable on October 28 to the September 25 stockholders of record. 28 Paid the dividend declared on September 5 31 Closed the $368,000 credit balance (froe 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 Answer is not complete Complete this question by entering your answers in the tabs below. 1 Jan 02 Treasury stock, Common Cash 90,000 O 90,000 2 Jan 05 Retained earnings Common dividend payable 220,000 O 220,000 X 3 Feb 28 Common dividend payable Cash 182,000 X O 182,000 X ho 4 Jul 06 48.952 * Cash Treasury stock, Common Paid In capital Treasury stock 42,200 6,752 Aug 22 Cash Paid In capital Treasury stock Retained earnings Treasury stock, Common OOO OOOO Oo 61 864 X 6,752 1,684 70 300 6 Sep 05 200,000 Retained earrings Common dividend payable 200.000 X Oct 28 Common dividend payable OO Cash 8 Dec 31 Income summary Ratino amin Complete this question by entering your answers in the tabs below. Required 1 Requed 2 Required 3 Prepare a statement Required 2 Jings for the year ended December 31, 2019. (Amounts to be deducted sh indicated by a minus sign.) KOHLER CORPORATION Statement of Retained Earnings For Year Ended December 31, 2019 Beginning retained earnings $430,000 Add Net income 430,000 Less Cash dividends declared (1,050,000) Less: Treasury stock reissuances Ending retained earnings $ 820,000 Complete this question by entering your answers in the tabs below. is Required 3 Required 1 Required 2 Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2019. KOHLER CORPORATION Stockholders' Equity Section of the Balance Sheet December 31, 2019 Common stock - $10 par value Paid in capital in excess of par value, common stock Total contributed capital Retained earnings Total stockholders' equity S 0 0
