Kohler Corporation reports the following components of stockholders' equity at December 31, 2018. Common stock-$15 par value, 100,000 shares authorized, 45,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 675,000 80,000 400,000 $1,155,000 During 2019, the following transactions affected its stockholders' equity accounts. Jan. 24Purchased 5,500 shares of its own stock at $20 cash per share. Jan. stDirectors 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 $388,000 credit balance (from net incono) 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. Saved Required 1 Required 2 Required 3 repare journal entries to record each of these transactions. View transaction list Journal entry worksheet 1 2 3 5 6 7 8 Record the payment of the cash dividend. Note: Enter debits before credits. Debit Credit Date Feb 28 General Journal Common dividend payable Cash 158,000 158,000 Record entry Clear entry View general journ Record the reissue of 3,437 shares of the treasury stock for $17 cash per share. Note: Enter debits before credits. General Journal Debit Credit Date Aug 22 58,429 Cash Paid-in capital, Treasury stock Retained earnings Treasury stock, Common 8,252 2,059 68,740 Record entry Clear entry View general journal $ 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2019. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2019. ces KOHLER CORPORATION Stockholders' Equity Section of the Balance Sheet December 31, 2019 Common stock - $15 par value 675,000 Pald-in capital in excess of par value, common stock 80,000 Total contributed capital 755,000 Retained earnings 477,941 Total stockholders' equity $ 1,232,941