Problem 11-2A Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Kohler Corporation reports the following components of stockholders' equity on December 31, 2017 Common stock-$20 par value, 100,000 shares authorized, 50,880 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $1,000,000 80,000 400,000 $1,480,000 In year 2018, the following transactions affected its stockholders' equity accounts Jan. 1 Purchased 6,000 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 record. Feb. 28 Paid the dividend declared on January 5. July 6 Sold 2,250 of its treasury shares at $24 cash per share. Aug. 22 Sold 3,75e 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 $368,000 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 2018 2. Prepare a statement of retained earnings for the year ended December 31, 2018 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2018 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare journal entres to record each of these transactions for 2018. View transaction list Journal entry worksheet 2 3 4 5 6 7 8 Record the purchase of 6,000 shares of its own common stock for $20 cash per share. Note: Enter debits before credits General Journal Date Jan 01 Debit Credit Record entry Clear entry View general journal View transaction list Journal entry worksheet Journal entry worksheet Journal entry worksheet 6 7 8 Record the reissue of 3,750 shares of the treasury stock for $17 cash per share. Note: Enter debits before credits. General Journal Debit Credit Date Aug 22 Record entry Clear entry View general journal he here to search n H SM View transaction list Journal entry worksheet