Problem 11-2A (Static) Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Kohler Corporation reports the following components of stockholders' equity at December 31 of the prior year. Common stock- $10 par value, 100,000 shares authori zed, 40,000 shares issued and outstanding Paid-in capital in excese of par value, common stock retained earnings Total mtockholderil' equity $400,00060,000270,000$730,000 During the current year, the following transactions affected its stockholders' equity accounts. January 2 Purchased 4,000 shares-of ite own stock at 320 cash per share. record. February 28 Paid the dividend declared on January 5. Ju1y. 6 Sold 2,000 of its treanury shaxen at $24 eash per ahare. August 22 Sold 2,000 of its treasury shares at $16 cash per share record. October 28 Paid the dividend declared on september 5 . Required: 1. Prepare journal entries to record each of these transactions. 2. Prepare a statement of retained earnings for the current year ended December 31 . 3. Prenare the storkholders' eauitu section of the balance sheet as of Derember 31 of the current vear. Prepare joumal entries to record each of these transactions: Prepare a statement of retained earnings for the current year ended December 31 . Note: Amounts to be deducted should be indicated by a minus sign. Complete this question by entering your answers in the tabs below. Prepare the stockholders' equity section of the balance sheet as of December 31 of