Kohler Corporation reports the following components of stockholders' equity on January 1. Common stock-\$10 par value, 100,000 shares authorized, 40,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity During the year, the following transactions affected its stockholders' equity accounts. January 2. Purchased 4,000 shares of its own stock at $20 cash per share. January 5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholder record. February 28 Paid the dividend declared on January 5. July 6 Sold 2,000 of its treasury shares at $24 cash per share. August 22 sold 2,000 of its treasury shares at $16 cash per share. Septenber 5 Directors declared a \$2 per share cash dividend payable on october 28 to the September 25 stockholdel record. October 28 Paid the dividend declared on September 5 . December 31 Closed the $388,000 credit balance (from net income) in the Income Sumpary account to Retained Earnin