Kohler Corporation reports the following components of stockholders' equity on January 1. Common stock-$10 par value, 100,000 shares authorized, 40,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 400,000 60,000 270,000 $ 730,000 During the year, the following transactions affected its stockholders' equity accounts. Jan. Jan. Feb. July Aug Sept. Oct. Dec. 2 Purchased 4,000 shares of its own stock at $20 cash per share. 5 Directors declared a $2 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 1,500 of its treasury shares at $24 cash per share. 22 Sold 2,500 of its treasury shares at $17 cash per share. 5 Directors declared a $2 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. * Answer is not complete. Requirement General Journal General Ledger Trial Balance Statement of RE Stockholders Equity Impact on Equity Prepare the Statement of Retained Earnings for Kohler Corporation for the year ended December 31. KOHLER CORPORATION Statement of Retained Earnings For Year Ended December 31 Beginning retained earnings $ 270,000 Add: Net income 388,000 658,000 Less: Cash dividends declared 196,500 x Less: Treasury stock reissuances 50,000 X Ending retained earnings $ 411,500 Kohler Corporation reports the following components of stockholders' equity on January 1. Common stock-$10 par value, 100,000 shares authorized, 40,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 400,000 60,000 270,000 $ 730,000 During the year, the following transactions affected its stockholders' equity accounts. Jan. Jan. Feb. July Aug. Sept. Oct. Dec. 2 Purchased 4,000 shares of its own stock at $20 cash per share. 5 Directors declared a $2 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 1,500 of its treasury shares at $24 cash per share. 22 Sold 2,500 of its treasury shares at $17 cash per share. 5 Directors declared a $2 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. Answer is not complete. Requirement General Journal General Ledger Trial Balance Statement of Stockholders RE Equity Impact on Equity Prepare the stockholders' equity section of Kohler Corporation's balance sheet as of December 31. Dates: Jan 01 to: Dec 31 KOHLER CORPORATION Stockholders' Equity Section of the Balance Sheet December 31 Total contributed capital 0 Total stockholders' equity $ 0 Kohler Corporation reports the following components of stockholders' equity on January 1. Common stock-$10 par value, 100,000 shares authorized, 40,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 400,000 60,000 270,000 $ 730,000 During the year, 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. Sept. 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. * Answer is not complete. Requirement General Journal General Ledger Trial Balance Statement of Stockholders RE Equity Impact on Equity For each transaction, indicate the impact on total stockholders' equity. Enter decreases to equity as negative values. Verify that total Stockholders' equity as of December 31, as calculated, agrees with the amount reported on the balance sheet. Dates: Jan 01 to: Dec 31 $ 730,000 (80,000) (80,000) x 36,000 Impact on equity Total Stockholders' Equity - January 1 Jan. 2) Purchased 4,000 shares of its own Stockholders' equity stock at $20 cash per share. decreased Jan. 5) Directors declared a $2 per share cash Stockholders' equity dividend payable on Feb. 28 to the Feb. 5 decreased stockholders of record. Feb. 28) Paid the dividend declared on No change in total equity January 5. Jul. 6) Sold 1,500 of its treasury shares at $24 Stockholders' equity cash per share. increased Aug. 22) Sold 2,500 of its treasury shares at Stockholders' equity increased Sep. 5) Directors declared a $2 per share cash Stockholders' equity dividend payable on October 28 to the decreased September 25 stockholders of record. Oct. 28) Paid the dividend declared on September 5. No change in total equity Dec. 31) Closed the $388,000 credit balance Stockholders' equity (from net income) in the Income Summary increased account to Retained Earnings. Total Stockholders' Equity - as calculated on December 31 Total Stockholder's Equity as reported on Stockholder's Equity tab Unreconciled difference: 42.500 $17 cash cash per share. (72,000) 388,000 $ 964,500 0 $ $ 964,500