Kohler Corporation reports the following components of stockholders' equity on December 31, 2017 Common stock-$25 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 $1,125,000 80,000 430,000 $1,635,000 In year 2018, 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 $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 1,589 of its treasury shares at $24 cash per share. Aug. 22 Sold 2,500 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 $408,000 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 Journal entry worksheet 1 2 3 4 5 6 7 8 Record the purchase of 4,000 shares of its own common stock for $20 cash per share. Note: Enter debits before credits. General Journal Date Jan 01 Debit Credit Record entry Clear entry View general journal View transaction list 2.5 points RELUIU Ule purchase UI 4,VUU SIDIES VI ILS UWII LUI stock for $20 cash per share. eBook 2 Record the declaration of a cash dividend of $6 per share. it balance Print References 3 Record the payment of the cash dividend. 4 Record the reissue of 1,500 shares of the treasury stock for $24 cash per share. Credit 5 Record the reissue of 2,500 shares of the treasury stock for $17 cash per share. 6 Record the declaration of a cash dividend of $6 per share. 7 Record the payment of the cash dividend. Note : = journal entry has been entered Record entry Clear entry View gener Required 1 | Required 2 Required 3 Prepare a statement of retained earnings for the year ended December indicated by a minus sign.) KOHLER CORPORATION Statement of Retained Earnings For Year Ended December 31, 2018 11