Pls give me full explanation.

Kohler Corporation reports the following components of stockholders equity on December 31, 2016:

Common stock$20 par value, 100,000 shares authorized, 50,000 shares issued and outstanding	$	1,000,000
Paid-in capital in excess of par value, common stock		80,000
Retained earnings		430,000
Total stockholders' equity	$	1,510,000

In year 2017, the following transactions affected its stockholders equity accounts.

Jan.		1		Purchased 4,500 shares of its own stock at $20 cash per share.
Jan.		5		Directors declared a $4 per share cash dividend payable on February 28 to the February 5 stockholders of record.
Feb.		28		Paid 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 $4 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.

a.Record the purchase of 4,500 shares of its own common stock for $20 cash per share.

b.Record the declaration of a cash dividend of $4 per share.

c.ecord the payment of the cash dividend.

d.Record the reissue of 1,688 shares of the treasury stock for $24 cash per share.

e.Record the reissue of 2,812 shares of the treasury stock for $17 cash per share.

f.Record the declaration of a cash dividend of $4 per share.

g.Record the payment of the cash dividend.

h.Record the entry to close the income summary account having a credit balance of $388,000.

2. Prepare a statement of retained earnings for the year ended December 31, 2017.

3. Prepare the stockholders' equity section of the companys balance sheet as of December 31, 2017.