Problem 11-2A (Algo) Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Kohler Corporation reports the following components of stockholders equity at December 3t, 2019. During 2020, the following transactions affected its stockholders' equily accounts. Janiary 2 Purchased 4 , eee shares of its own stock at 525 cash per share. January 5 oirectors dectared a 56 per share cosh dividend payable on February 28 to the February 5 stacibolders of record. february 28 paid the dividend declared on January S. July 6 sold 1,500 of its treasury shares at 529 cash per share. August 22 sold 2,500 of its treasury shares at i22 cash per share. Septenber 5 birectors declared a 56 per share cash dividend payable on october 2t to the September 25 stockholders of record. October 28 Pald the dividend declared on Septesber. 5. Deceeber 31 Closed the 4388, sog credit balance (fros net incone) in the Incone sinnary account to lletained famings. Required: 1. Prepare joumal entries to record each of these transactions. 2. Prepare a statement of retained earnings for the year ended December 31,2020 3. Prepare the stociholders equity section of the componys balance sheet as of December 3t, 2020 Journal entry worksheet Record the purchase of 4,000 shares of its own common stock for $25 cash per share. Note: Enter debits before credits. Prepare journal entries to record each of these transactions. Journal entry worksheet 567 Record the declaration of a cash dividend of $6 per share. Note: Enter debits before credits. Journal entry worksheet 4 Record the payment of the cash dividend. Note: Enter debits before credits. Journal entry worksheet 1 (2) 677 Record the reissue of 1,500 shares of the treasury stock for $29 cash per share. Note: Enter debits before credits. Journal entry worksheet 1 2 78 Record the reissue of 2,500 shares of the treasury stock for $22 cash per share. Note: Enter debits before credits. Journal entry worksheet 1 2 3 4 5 7 Record the declaration of a cash dividend of $6 per share. Note: Enter debits before credits. Journal entry worksheet Journal entry worksheet 1 2 3 4 5 6 Record the entry to close the $388,000 credit balance (from net income) in the Income Summary account to Retained Earnings. Note: Enter debits before credits