Record the purchase of 5,000 shares of its own common stock for $25 cash per share.

Record the declaration of a cash dividend of $4 per share.

Record the payment of the cash dividend

Record the reissue of 1,875 shares of the treasury stock for $29 cash per share.

Record the reissue of 3,125 shares of the treasury stock for $22 cash per share.

Record the declaration of a cash dividend of $4 per share.

Record the payment of the cash dividend.

Record the entry to close the $388,000 credit balance (from net income) in the Income Summary account to Retained Earnings.

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 at December 31, 2018. Common stock-$15 par value, 100,000 shares authorized, 60,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders equity $ 900,000 70,000 460,000 $1,430,000 During 2019, the following transactions affected its stockholders' equity accounts. Jan. Jan. Feb. July Aug. Sept. 2 Purchased 5,000 shares of its own stock at $25 cash per share. 5 Directors declared a $4 per share cash dividend payable on February 28 to the February 5 stockholders of record. 28 Paid the dividend declared on January 5. 6 Sold 1,875 of its treasury shares at $29 cash per share. 22 Sold 3,125 of its treasury shares at $22 cash per share. 5 Directors declared a $4 per share cash dividend payable on October 28 to the September 25 stockholders of record. 28 Paid the dividend declared on September 5. 31 closed the $388,000 credit balance (from net income) in the Income Summary account to Retained Earnings. Oct. Dec. Required: 1. Prepare journal entries to record each of these transactions. 2. Prepare a statement of retained earnings for the year ended December 31, 2019. 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2019