[The following information applies to the questions displayed below.J Kohler Corporation reports the following components of stockholders' equity on December 31, 2015 Common stock $25 par value, 100,000 shares authorized, 50,000 shares issued and $1,250,000 outstanding Paid-in capital in excess of par value, common stock 70,000 Retained earnings 400.000 1,720,000 Total stockholders' equity In year 2016, the following transactions affected its stockholders' equity accounts. Jan. 1 Purchased 5,500 shares of its own stock at $25 cash per share. Jan. 5 Directors declared a $4 per share cash dividend payable on Feb. 28 to the Feb. 5 stockholders of record Feb. 28 Paid the dividend declared on January 5. July 6 Sold 2,063 of its treasury shares at $29 cash per share. Aug. 22 Sold 3,437 of its treasury shares at $22 cash per share. Sept. 5 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 $408,000 credit balance (from net income in the Income Summary account to Retained Earnings. value 5.00 points Required: 1. Prepare journal entries to record each of these transactions for 2016 view transaction list view general journal Journal Entry Worksheet 1 2 3 4 5 6 7 8 Re