Kohler Corporation reports the following components of stockholders' equity on December 31, 2017 Common stock-$20 par value, 100,000 shares authorized, 45,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 900,000 70,000 400,000 $1,370,000 In year 2018, the following transactions affected its stockholders' equity accounts. Jan. Jan. Feb. July Aug. Sept. 1 Purchased 5,000 shares of its own stock at $25 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 1,875 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 $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 $428,000 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 for 2018. 2. Prepare a statement of retained earnings for the year ended December 31, 2018. 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2018. View transaction list View journal entry worksheet No Date Debit Credit 1 Jan 01 General Journal Treasury stock, Common Cash 125,000 125,000 2 Jan 05 80,000 Retained earnings Common dividend payable 80,000 3 Feb 28 80,000 Common dividend payable Cash 80,000 4 Jul 06 Cash Paid-In capital, Treasury stock Treasury stock, Common 5 Aug 22 Cash Paid-In capital, Treasury stock Retained earnings Treasury stock, Common 6 Sep 05 Retained earnings Common dividend payable 7 Oct 28 Common dividend payable Cash 8 Dec 31 Income summary Retained earnings Required 1 Required 2 Required 3 Prepare a statement of retained earnings for the year ended December 31, 2018. (Amounts to be deducted should be indicated by a minus sign.) KOHLER CORPORATION Statement of Retained Earnings For Year Ended December 31, 2018 0 $ Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2018. KOHLER CORPORATION Stockholders' Equity Section of the Balance Sheet December 31, 2018 Total contributed capital 0 Total stockholders' equity $ 0