Kohler Corporation reports the following components of stockholders' equity on December 31, 2017 Common stock-$15 par value, 100, 200 shares authorized, 45,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 675, eee 7e, eee 37e eee $1,115, eee In year 2018, the following transactions affected its stockholders' equity accounts. Jan. 1 Purchased 5,5ee shares of its own stock at $25 cash per share. Jan. 5 Directors declared a 54 per share cash dividend payable on February 28 to the February 5 stockholders of reco Feb. 28 Paid the dividend declared on January 5. July 6 Sold 2,063 of its treasury shares at $29 cash per share. Aug. 22 Sold 3,437 of its treasury shares at $22 cash per share. Sept. 5 Directors declared a 54 per share cash dividend payable on October 28 to the September 25 stockholders of recor Oct. 28 Paid the dividend declared on September 5. Dec. 31 Closed the $428,000 credit balance (from net income) in the Income Summary account to Retained Earnings In year 2018, the following transactions affected its stockholders' equity accounts. Jan. 1 Purchased 5,500 shares ofTits own stock at $25 cash per share. Jan. 5 Directors declared a $4 per share cash dividend payable on February 28 to the February 5 stockholders of reca Feb. 28 Paid the dividend declared on January 5. July 6 Sold 2,063 of its treasury shares at $29 cash per share. Aug. 22 Sold 3,437 of its treasury shares at $22 cash per share. Sept. 5 Directors declared a $4 per share cash dividend payable on October 28 to the September 25 stockholders of rece Oct. 28 Paid the dividend declared on September 5. Dec.31 Closed the $428,000 credit balance (from net income) in the Income Summary account to Retained Earnings Required: 1. Prepare journal entries to record each of these transactions for 2018 2. Prepare a statement of retained earnings for the year ended December 31, 2018 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2018