The following information applies to the questions displayed below] Kohler Corporation reports the following components of stockholders' equity on December 31, 2015: Common stock-$20 par value, 100,000 shares authorized, 60,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings $1,200,000 80,000 430,000 Total stockholders' equity $ 1,710,000 In year 2016, the following transactions affected its stockholders' equity accounts. Purchased 5,500 shares oits own stock at $25 cash per share. Directors declared a $4 per share cash dividend payable on Feb. 28 to the Feb. 5 stockholders of record. Jan. 1 Jan. 5 Feb. 28 July 6 Aug. 22 Sept. 5 Paid the dividend declared on January 5. Sold 2,063 of its treasury shares at $29 cash per share. Sold 3,437 of its treasury shares at $22 cash per share. Directors declared a $4 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 $428,000 credit balance (from net income) in the Income Summary account to Retained Earnings