Kohler Corporation reports the following components of stockholders' equity on December 31, 2016 Coemon stock-$15 par value, 100,000 shares authorized, 40,000 shares issued and outstanding Paid-in eapital in excess of par value, eonmon stock 600,000 60,000 00-000 1.060,000 Total stoekholders equity In year 2017, the following transactions affected its stockholders' equity accbunts Jan. Jam. 1Parehased 4,500 sbares of its own stock at $15 cash per share SDireetors declared a $ 2 per share eash dividend payable on Februsry 28 to the Tebruary 5 stockholders of Feb. 28 Paid the dividend declared cn January 5 July Sold 1,688 of its treasary sbaces at $19 eash per share Aug. 22 Bold 2,812 of its treasary shares at $12 cash per share Sept. 5 Directors declared a $2 per share cash dividend peysble on Oetober 28 to the September 25 stoekholders of Oet. 28Paid the dividend declared on September 5. 31 Closed the $388,000 eredit balance (from set income) in the Incone Summary account to Retained tarnings 1. Prepare journal entries to record each of these transactions for 2017 2. Prepare a statement of retained earnings for the year ended December 31, 2017 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2017 Complete this question by entering your answers in the tabs below. C Prev 3 of 10 Next > cau 8 View transaction list Journal entry worksheet Record the purchase of 4,500 shares of its own common stock for $15 cash per share. Note: Enter debits before credits Date General Journal Debit Credit Jan 01 Treasury stock, Common 67,500 Cash 67,500 Record entry Clear entry View general journal Required 2 5 View transaction list Journal entry worksheet 6 7 Record the declaration of a cash dividend of $2 per share. Note: Enter debits before credits. Date General Journal Debit Credit Jan 05 ned earnings dividend payable Record entry Clear entry View general journal Required 2> 5 View transaction list Journal entry worksheet 2 7 Record the payment of the cash dividend. Note: Enter debits before credits. Date General Journal Debit Credit Feb 28 dividend payable Record entry Clear entry View general journal Required 2> KPrev 3 of 10EE Next> 5 View transaction list Journal entry worksheet 90 2 Record the reissue of 1,688 shares of the treasury stock for $19 cash per share. Note: Enter debits before credits. Date Debit Credit Jul 06 Cash reasury stock, Common Paid-In capital, Treasury stock Record entry Clear entry View general journal Required 2> View transaction list Journal entry worksheet 6 7 Record the reissue of 2,812 shares of the treasury stock for $12 cash per share. Note: Enter debits before credits. Date General Journal Debit Credit Aug 22 Cash Paid-In capital, Treasury stock Retained earnings reasury stock, Common Record entry Clear entry View general journal Required 2> 5 View transaction list Journal entry worksheet Record the declaration of a cash dividend of $2 per share. Note: Enter debits before credits Date General Journal Debit Credit Sep 05 Retained earnings Common dividend payable Record entry Clear entry View general journal Required 2> KPre 3 of 10 Next> View transaction list Journal entry worksheet 5 6 Record the payment of the cash dividend. Note: Enter debits before credits. Date General Journal Debit Credit Oct 28 Common dividend payable Cash Record entry Clear entry View general journal Required 2> Prev 3 of 10 Next> 5 View transaction list Journal entry worksheet Record the entry to close the income summary account having a credit balance of $388,000. Note: Enter debits before credits Date General Journal DebitCredit Dec 31 e summary 388.000 Retained earnings 388,000 Record entry Clear entry View general journal Required 2> 5 requirea: 1. Prepare journal entries to record each of these transactions for 2017. 2. Prepare a statement of retained earnings for the year ended December 31, 2017 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2017 Complete this question by entering your answers in the tabs below Required 1 Required 2 Required 3 Prepare a statement of retained earnings for the year ended December 31, 2017. (Amounts to be deducted should be indicated by a minus sign.) Statement of Retained Earnings For Year Ended December 31, 2017 earnings, Dec. 31, 2016 Add: Net income Less: Cash dividends declared ess: Treasury stock reissuances earnings, Dec. 31, 2017$ 8 3 4 0 Requirea 1. Prepare Journal entries to record each of these transactions for 2017 2. Prepare a statement of retained earnings for the year ended December 31, 2017 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2017 Complete this question by entering your answers in the tabs below Required 1 Required 2 Required 3 Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2017 KOHLER CORPORATION Stockholders Equity Section of the Balance Sheet December 31, 2017 Common stock- $15 par value Paid-in capital in excess of par value, common stock Total contributed capital S 600,000 60,000 660,000 Total stockholders equity S 660,000 Required 2 Prev 3 of 10 Next 5 8