Record the declaration of a cash dividend of six dollars per share.

Record the payment of the cash dividend.

Record the re-issue of 2250 shares of the treasury stock for $19 cash per share.

Record the re-issue of 3750 shares of the treasury stock for $12 cash per-share.

Record the declaration of a cash dividend of six dollars per share

Record the payment of the cash dividend

Record the entry to close the income summary account having a credit balance of $408,000

er 11: Homework 2 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, 2016: Common stock-$20 par value, 190,890 shares authorized, 50,800 shares issued and outstanding Paid in capital in excess of par value, comon stock Retained earnings Total stockholders' equity 56:00 $1,800,000 79,800 400,000 $1,470,000 OK In year 2017, the following transactions affected its stockholders' equity accounts. Jan. 1 Purchased 6,000 shares of its own stock at $15 cash per share. Jan. 5 Directors declared a $6 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 $19 cash per share. Aug. 22 Sold 3,750 of its treasury shares at $12 cash per share. Sept. 5 Directors declared a 56 per share cash dividend payable on October 28 to the September 25 stockholders of record. Oct. Dec. 31 Closed the $488,000 credit balance (from net income) in the Income Summary account to Retoined Earnings. Required: 1. Prepare journal entries to record each of these transactions for 2017 2. Prepare a statement of retained earnings for the year ended December 31, 2017 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2017