Kohler Corporation reports the following components of stockholders' equity on December 31, 2017. Common stock-$20 par value, 100,000 shares authorized, 55,000 shares issued and outstanding $1,100,000 60,000 Paid-in capital in excess of par value, common stock Retained earning3 430,000 $1,590,000 Total stockholders' equity In year 2018, the following transactions affected its stockholders' equity accounts. 1 Purchased 5,500 shares of its own stock at $20 cash per share 5 Directors declared a $4 per share cash dividend payable on February 28 to the February 5 stockholders of Jan Jan record 28 Paid the dividend declared on January 5 Sold 2,063 of its treasury shares at $24 cash per share 22 Sold 3,437 of its treasury shares at $17 cash per share. 5 Directors declared a $4 per share cash dividend payable on October 28 to the September 25 stockholders of Feb. July Aug Sept record Oct 28 Paid the dividend declared on September 5. 31 closed the $388,000 credit balance (from net income) in the Income Summary account to Retained Earnings Dec 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