Problem 13-2A Cash dividends, treasury stock, and statement of retained earnings SC39P2 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 Paid-in capital in excess of par value, common stock 60,000 Retained earnings 270,000 Total stockholders' equity $730,000 During 2019, the following transactions affected its stockholders' equity accounts. Jan. 2 Purchased 4,000 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 1,500 of its treasury shares at $24 cash per share. Aug 22 Sold 2,500 of its treasury shares at $17 cash per share. Sep. 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 $388,000 credit balance (from net income) in the Income Summary account to Retained Earnings