Kohler Corporation teports the following components of stockholders' equity at December 31 of the prior year. Coenain stock-520 par value, 100,000 shares authorized, 50,000 shares issued and outstanding Pasd-in capital in excess of par value, common stock Kotained earnings $1,000,00070,000400,000$1,470,000 During the current year, the following transactions affected its stockholders' equity accounts: January 2 Punchased 4, 000 shares of its own stock at 315 cash per share. Januacy 5 Directors declared a 56 per share cash divideod payable on Eebruary 28 to the February 5 stockholders of record. Fetecuary 21 Paid the dividend declared on Januacy 5. July 6 sold 2,000 of Its treasury shares at $19 cash per share. August 22 sold 2,000 of its treasury shares at \$11 cash per share. Senteeben 5 Directors declared a $6 per share cash dividend payable on actober 28 to the Septesber 25 stockholders of record. October 28 Pald the dividend declared on Septenber 5. Decenber 31 Closed the $368,000 credit balance (from net income) in the Incone Sumnary account to Ketained Earnings. Required: 1. Prepare journal entries to record each of these transactions: 2. Prepare a statement of retained earnings for the current year ended December 31 3. Prepare the stockholders' equity section of the balance sheet as of December 31 of the curtent year: Reguired 1 Required 2 7. rrepare journar entries to recora eacn or these transactions. 2. Prepare a statement of retained earnings for the current year ended December 31. 3. Prepare the stockholders' equity section of the balance sheet as of December 31 of the current year. Complete this question by entering your answers in the tabs below. Prepare a statement of retained earnings for the current year ended December 31 . (Amounts to be deducted should be indicated by a minus sign.) 1. Prepare journai entnes to recora eacn or tnese transactions: 2. Prepare a statement of retained earnings for the current year ended December 31. 3. Prepare the stockholders' equity section of the balance sheet as of December 31 of the current year. Complete this question by entering your answers in the tabs below. Prepare the stockholders' equity section of the balance sheet as of December 31 of the current year