Kohler Corporation reports the following components of stockholders' equity at December 31 of the prior year. Comaon stock $15 par value, 100,000 shares author ized, 55,000 shares issued and out standine Paid-in capital in excess of par value, connon stock Retained earninks Total stockholders' equity $825,00080,000400,000$1,305,000 During the current year, the following transactions affected its stockholders' equity accounts. January 2 Purchased 6,000 shares of 1t s oun stock at $25 cash per share. January 5 Directors declared a $4 per share cash dividend payable on February 28 to the February 5 stockholders of record. February 28 Pald the dividend declared on January 5 . July 6 Sold 3,000 of its treasury shares at $29. cash per share. Auzust 22 \$old 3,000 of its treasury shares at $21 cash per share. Septener 5 pirectors dectared a $4 per share canh dividend parabie on october 28 to the Septesber 25 atockholders of record. Deceaber 31 Paid the dividend declared on Septenber 5. 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' equify section of the balance sheet as of December 31 of the current year. 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. Prepare the stockholders' equity section of the balance shcet as of December 31 of the current