Kohler Corporation reports the following components of stockholders? equity on December 31, 2015:
Common stock-$10 par value, 100,000 shares authorized, 40,000 shares issued and outstanding	$400,000
Paid-in capital in excess of par value, common stock	60,000
Retained earnings	270,000
Total stockholders' equity	$730,000
In year 2016, the following transactions affected its stockholders? equity accounts.
Jan. 1	Purchased 4,000 shares of its own stock at $20 cash per share.
Jan. 5	Directors declared a $2 per share cash dividend payable on Feb. 28 to the Feb. 5 stockholders of record.
Feb. 28	Paid the dividend declared on January 5.
Jul. 6	Sold 1,500 of its treasury shares at $24 cash per share.
Aug. 22	Sold 2,500 of its treasury shares at $17 cash per share.
Sep. 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.

Kohler Corporation reports the following components of stockholders' equity on December 31, 2015: $400,000 Common stock-$10 par value, 100,000 shares authorized, 40,000 shares issued and outstanding 60,000 Paid-in capital in excess of par value, common stock 270,000 Retained earnings Total stockholders' equity $730,000 In year 2016, the following transactions affected its stockholders' equity accounts. Jan. 1 Purchased 4,000 shares of its own stock at $20 cash per share. Directors declared a $2 per share cash dividend payable on Feb. 28 to the Feb. 5 stockholders of Jan. 5 record. Feb. 28 Paid the dividend declared on January 5. Jul. 6 Sold 1,500 of its treasury shares at $24 cash per share. Aug. 22 Sold 2,500 of its treasury shares at $17 cash per share. Directors declared a $2 per share cash dividend payable on October 28 to the September 25 Sep. 5 stockholders of record. Oct. 28 Paid the dividend declared on September 5. Closed the $388,000 credit balance (from net income) in the Income Summary account to Dec. 31 Retained Earnings. General Journal tab - Prepare the necessary journal entries. Statement of Retained Earnings tab - Prepare the Statement of Retained Earnings for the Kohler Corporation for the year ended December 31, 2016. Stockholders' Equity tab - Prepare the Stockholders' equity section of Kohler Corporation's December 31, 2016 balance sheet. Impact on Equity tab - For each transaction, indicate the total change in Stockholders' Equity, if any. Verify that total equity, as calculated, agrees with the amount reported on the Stockholders' Equity tab