Mike Derr and Mark Finger form a partnership by combining assets of their separate businesses. The following balance sheet is from Derr's sole proprietorship. The market value of Derr's equipment is $5,800 and the market value of land is $8,800. Balance Sheet $ 5,300 3,900 9,200 Assets Cash Supplies Equipment Accumulated depreciation Equip Land Total assets $ 1,800 3,800 $ 15,000 (12,200) 2,800 4,800 $ 13,200 Llabilities Accounts payable Notes payable Total liabilities Equity M. Derr, Capital Total liabilities and equity 4,000 $ 13,200 Prepare the partnership's journal entry to record Derr's investment. View transaction ist Journal entry worksheet > Kohler Corporation reports the following components of stockholders' equity at December 31, 2018 Common stock-$10 par value, 100,000 shares authorized, 40,000 shares issued and outstanding $ 400,000 Pald-in capital in excess of par value, common stock 60,000 Retained earnings 400,000 Total stockholders' equity $ 860,000 During 2019, the following transactions affected its stockholders' equity accounts. Jan. 2 Purchased 4,500 shares of its own stock at $20 cash per share. Jan 5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of reci Feb. 28 Pald the dividend declared on January 5. July 6 Sold 1,688 of its treasury shares at $24 cash per share. Aug. 22 Sold 2,812 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 Oct. 28 Paid the dividend declared on September 5. Dec. 31 Closed the $408,000 credit balance (from net income) in the Income Summary account to Retained Earnings. Required: 1. Prepare journal entries to record each of these transactions. 2. Prepare a statement of retained earnings for the year ended December 31, 2019. 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2019. Journal entry worksheet