Kohler Corporation reports the following components of stockholders' equity st December $31$ of the prior year.During the current year, the following transactions affected its stockholders' equity accounts.Required: During the current year, the following transactions affected its stockholders' equity accounts.January $5$ Directors declared a $$2$ per share cash dividend payable on February $28$ to the February $5$ stockholders of record.

February $28$ Paid the dividend declared on January $5.$August $22$ Sold $2,000$ of its treasury shares at $$16$ cash per share.

September $5$ Directors declared a $$2$ per share cash dividend payable on October $28$ to the September $25$ stockholders of record.December $31$ Closed the $$428,000$ credit balance $($from net income$)$ in the Income Summary account to Retained Earnings.Required:

Prepare journal entries to record each of these transactions.

Prepare a statement of retained earnings for the current year ended December $31.$

Prepare the stockholders' equity section of the balance sheet as of December $31$ of the current year.

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Prepare a statement of retained earnings for the current year ended December $31.$

Note: Amounts to be deducted should be indicated by a minus sign.

Prepare journal entries to record each of these transactions.

Prepare a statement of retained earnings for the current year ended December $31.$

Prepare the stockholders' equity section of the bolance sheet $s$ of December $31$ of the current year.

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Prepare journal entries to record each of these transactions.

$\backslash$table$[[$No$,$Date,Gen:,,Debit,Credit$],[1,$Jarnary $02,$Treasury stack, Comman,$\backslash$theta $,80,000,],[,$Cash,$0,,80,000],[2,$Jarluary $05,$Cash,ox$,100,000\backslash$times $,],[,$Camman dividend payable,$0,,100,000],[3,$February $28,$Common dividend payable,$0,100,000$ox$,],[,$Cash,$0,,100,000\backslash$Theta $],[4,$July $06,$Cassh,$\backslash$theta $,48,000,],[,$Tressury stock, Common,$0,,48,000$~~$],[5,$Augus: $22,$Cash,$0,32,000,],[,$Tressury slock, Common,x$,,32,000\backslash$Omega $],[7,$Octaber $28,$Common dividend payable,$0,100,0000,],[,$Cash,$0,,100,000],[8,$December $31,$Income summary,$0,428,000,],[,$Retained earnings,$0,,428,0000]]$