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 $1,250,000 Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity 80,000 $1.760,000 In year 2018, the following transactions affected its stockholders equity accounts Jan. 1 Purchased 5,000 shares of its ovm stock at $25 cash per share. Jan. 5 Directors declared a s4 per share cash dividend payable on February 28 to the Feb. 28 Paid the dividend declared on January 5. July 6 Sold 1,875 of its treasury shares at $29 cash per share. Aug. 22 Sold 3,125 of its treasury shares at $22 cash per share. Sept. 5 Directors declared a $4 per share cash dividend payable on Oetober 28 to the February 5 stockholders of record. 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 jounal 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 Required Required Prepare journal entries to record each of these transactions for 2018. View transaction list Journal entry worksheet Record the purchase of 5,000 shares of its own common stock for $25 cash per share Note: Enter debits before credits. Jan 01