Kohler Corporation reports the following components of stockholders equity at December 31, 2018.

Common stock$15 par value, 100,000 shares authorized, 60,000 shares issued and outstanding	$	900,000
Paid-in capital in excess of par value, common stock		80,000
Retained earnings		370,000
Total stockholders' equity	$	1,350,000

During 2019, the following transactions affected its stockholders equity accounts.

Jan.		2		Purchased 4,500 shares of its own stock at $25 cash per share.
Jan.		5		Directors declared a $2 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 1,688 of its treasury shares at $29 cash per share.
Aug.		22		Sold 2,812 of its treasury shares at $22 cash per share.
Sept.		5		Directors declared a $2 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 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 companys balance sheet as of December 31, 2019.

X Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required Required Required 1 2 3 Prepare journal entries to record each of these transactions. Credit No 1 Date Jan 02 General Journal Treasury stock, Common Cash Debit 112,500 112,500 2 Jan 05 Retained earnings Common dividend payable 103,5008 103,500X Feb 28 103,500X Common dividend payable Cash 103,500X 4 Jul 06 48,952 Cash Treasury stock, Common Paid-In capital, Treasury stock SOS SSS SS 42,200 6,752 5 Aug 22 Cash Paid-In capital, Treasury stock Retained earings Treasury stock, Common 61,864 6,752 1,688X 70,3048 6 Sep 05 370,000 X Retained earnings Common dividend payable 370.000X 7 Oct 28 370,000 X Common dividend payable Cash 370,000x 8 Dec 31 388,000 Income summary Retained earnings 388,000 Required 2 > X Answer is complete but not entirely Complete this question by entering your answers in the ILL Required Required Required 1 2 3 Prepare a statement of retained earnings for the year ended De (Amounts to be deducted should be indicated by a minus sign.) KOHLER CORPORATION Statement of Retained Earnings For Year Ended December 31, 2019 Beginning retained $ 370,000 earnings Add: Net income 388,000 758,000 Less: Cash dividends (216,000 X declared Less: Treasury stock (1,688 X reissuances Ending retained earnings $ 540,312 X Answer is complete but not entirely corr Complete this question by entering your answers in the tabs ULELLET HULLULLIR Required Required Required 1 2 3 Prepare the stockholders' equity section of the company's balance sh 31, 2019. KOHLER CORPORATION Stockholders' Equity Section of the Balance Sheet December 31, 2019 Common stock - $15 par value $ 900,000 Paid-in capital in excess of par value, 80,000 common stock Total contributed capital 980,000 Retained earnings 540,312x Total stockholders' equity $ 1,520,312