7 Problem 11-2A (Algo) 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, 2019 30 port Connon Stock-515 par value, 100,000 shares authorired, 45,000 shares issued and outstanding Paldin capital in excess of par value, connon stock Retained earnings Total stockholders' equity $ 675,00 70,000 410.000 51,175,000 . During 2020, the following transactions affected its stockholders' equity accounts Jan. 2 Purchased 6,000 shares of its own stock at 525 cash per share. Jan 5 Directors declared a 54 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 2,250 of its treasury shares at 520 cash per share. Aug 22 Sold 3.750 of its treasury shares at 122 cash per share. Sept. 5 Directors declared 54 per share cash dividend payable on October 28 to the September 25 stockholders of Oct. 28 Paid the dividend declared on September 5. Dec. 31 closed the $100,000 credit balance (fron net incone) in the Income Summary account to retained Earnings, Required: 1. Prepare journal entries to record each of these transactions 2. Prepare a statement of retained earnings for the year ended December 31, 2020 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2020, Complete this question by entering your answers in the tabs below Required 2 Required Required Next