Kohler Corporation reports the following components of stockholders equity on December 31, 2016: Conmon stock-$15 par value, 180,000 shares authorized, 50,800 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity 758,880 70,800 400,000 s 1,228,000 In year 2017, the following transactions affected its stockholders equity accounts an. 1Purchased 4,800 shares of its own stock at $15 cash per share 5Directors declared a $4 per share cash dividend payable on February 28 to the February 5 3an. stockholders of record. Feb. 28 Paid the dividend declared on January 5. uly 6Sold 1,580 of its treasury shares at s19 cash per share. Aug. 22Sold 2,500 of its treasury shares at $12 cash per share. Sept. sDirectors declared a $4 per share cash dividend payable on October 28 to the September 25 stockholders of record. Oct. 28Paid the dividend declared on September 5. Dec. 31 Closed the $368,000 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 2017 2. Prepare a 3. Prepare the stockholders equity section of the company's balance sheet as of statement of retained earnings for the year ended December 31, 2017 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 2017. View transaction list Journal entry worksheet Record the purchase of 4,000 shares of its own common stock for $15 cash per share. Noter debits beore credis General Joumal Date Jan 01 Racoid entry Clear entry iew general joursal Required: 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 oistion 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.) KOHLER CORPORATION Statement of Retained Earnings For Year Ended December 31, 2017 es Requized3 a C Ran uired 1 stockholders of record. Oct. 28 Paid the dividend declared on September 5. Dec. 31 Closed the $368,000 credit balance (from net income) in the Income Sunmary account to Retained Earnings Required: 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 gection of the company's balance sheet as of December 31, 2017 oK Complete this question by entering your answers in the tabs below. int Required 1 Required 2 Required 3 rences 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 Total contributed capital Total stociholders equity Required 2
