Kohler Corporation reports the following components of stockholders' equity on January 1. Common stock-$10 par value, 100, 000 shares authorized, 49,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 400,000 60,000 279,000 $ 730,000 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 stockholders of reco 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. September 5 Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of rec October 28 Paid the dividend declared on September 5. December 31 Closed the $388,000 credit balance (from net income) in the Income Summary account to Retained Earnings. General Journal General Ledger Trial Balance Statement of RE Stockholders Equity Requirement Impact on Equity Prepare the Statement of Retained Earnings for Kohler Corporation for the year ended December 31. KOHLER CORPORATION Statement of Retained Earnings For Year Ended December 31 0 $ 0 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 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockho 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. September 5 Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockh October 28 Paid the dividend declared on September 5. December 31 Closed the $388,000 credit balance (from net income) in the Income Summary account to Retained E Requirement General Journal General Ledger Tral Balance Statement of RE Stockholders Equity Impact on Equity Prepare the stockholders' equity section of Kohler Corporation's balance sheet as of December 31. Dates: January 01 to: Janual KOHLER CORPORATION Stockholders' Equity Section of the Balance Sheet December 31 Total contributed capital 0 Total stockholders' equity $ 0 Kohler Corporation reports the following components of stockholders' equity on January 1. $ 40 6 27 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 $ 73 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 stockholders of 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. September 5 Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders October 28 Paid the dividend declared on September 5 December 31- Closed the $388,000 credit balance (from net income) in the Income Summary account to Retained Earnings. General Journal General Ledger Trial Balance Statement of Stockholders RE Equity Requirement Impact on Equity For each transaction, indicate the impact on total stockholders' equity. Enter decreases to equity as negative values. Verify that total Stockholders' equity as of December 31, as calculated, agrees with the amount reported on the balance sheet. Dates: January 01 to: January 01 Impact on equity $ Total Stockholders' Equity - January 1 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 Feb. 28 to the Feb. 5 stockholders of 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. September 5) Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record. October 28) Paid the dividend declared on September 5. December 31) Closed the $388,000 credit balance (from net income) in the Income Summary account to Retained Earnings