CHAPTER 13-HOMEWORK -p1-5 6 Saved Help Save & Exit Submit Check my work Problem 13-2A Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Kohler Corporation reports the following components of stockholders' equity on December 31, 2016: 7.69 points Conmon stock-$10 par value, 100,000 shares authorized, 55,000 sharea issued and outstanding Paid-in capital in excess of par Retained earnings Total stockholders equity 550,000 70,000 100,000 value, common stock eBook Ask References 1,020,000 In year 2017, 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 $6 per share caah dividend payable on February 28 to the February 5 atockholders 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 ita treasury sharea at $22 cash per share Sept. S Directors declared a $6 per share caah dividend payable on October 28 to the September 2s stockholders of record Oct. 28 Paid the dividend declared on September 5 Dec. 31cloaed the $388,000 credit balance (from net income) in the Income Summary account to Retained Earnings Required: 1. Prepare journal entries to record each of these transactions for 2017 2. Prepare a statement of retained earnings for the year ended December 31, 2017 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2017