Kohler n reports the following components of stockholders' equity on December 31, 2016: Common stock-$20 par value, 100,000 shares authorized, 45,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 900,000 70,000 400, 000 $1,370,000 In year 2017, the following transactions affected its stockholders' equity accounts. 1 Purchased 4,000 shares of its own stock at $20 cash per share 5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 Jan stockholders of record Feb. 28 Paid the dividend declared on January 5 July 6 Sold 1,500 of its treasury shares at $24 cash per share Aug. 22 sold 2,500 of its treasury shares at $17 cash per share Sept. 5 Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record Oct. 28 Paid the dividend declared on September 5 Dec. 31 Closed the $388, 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 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 Required 1 Required 2 Required 3 Prepare journal entries to record each of these transactions for 2017 No Date General Journal Debit Credit an 01 Treasury stook, Common an 05 Retained eamings Common dividend psyable Feb 28 Common dividend payable Cash Jl ce Cash Treasury stock, Common Paid-In capital, Tressury stock Aup 22 Cash Paid-in capital, Treasury stock Treasury stock, Common Sep 05 Retsined esmings Common dividend payable Oct 28 Common dividend payable Cash Dee 31 Income summary Retsined esmings