Kohler Corporation reports the following components of stockholders' equity on December 31, 2017 Common stock-$25 par value, 100,000 shares authorized 50,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders equity $1,250,000 60,000 460,000 $1,770,000 Jan. 5 In year 2018, the following transactions affected its stockholders' equity accounts. 1 Purchased 5,500 shares of its own stock at $15 cash per share. Jan. 5 Directora 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 2,063 of its treasury shares at $19 canh per share. Aug. 22 Sold 3,437 of its treasury shares at $12 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 incone) 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, Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare journal entries to record each of these transactions for 2018. View transaction list Journal entry worksheet 1 3 4 2 5 6 7 8 Record the purchase of 5,500 shares of its own common stock for $15 cash per share. Note: Enter debits before credits General Journal Debit Credit Dato Jan 01 Record entry Clear entry View general Journal Required 1 Required 2 Required 3 Prepare journal entries to record each of these transactions for 2018 View transaction list Journal entry worksheet Record the reissue of 2,063 shares of the treasury stock for $19 cash per share. Note Enter debits before credits Date General Journal Debit Credit Jul 06 Record entry Clear entry View general Journal UCE. Dec. co vaia tne Gividena gectarea on September . 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 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare journal entries to record each of these transactions for 2018. View transaction list Journal entry worksheet
