GL1101 (Static) - Based on Problem 11-2A Kohler Company LO C3, P2, P3 Kohler Corporation reports the following components of stockholders' equity at December 31, 2019. 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 2020, the following transactions affected its stockholders' equity accounts. 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. Jan 2 Purchased 4,000 shares of its own stock at $20 cash per share. Jan. Feb. July Aug- Sept, Oct. Dec 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. 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. 11 Closed the $388,000 credit balance (from net income) in the Income Summary account to Retained Earnings. Requirement General Journal General Ledger Trial Balance Statement of Stockholders RE Equity Impact on Equity During the year, the following transactions affected its stockholders' equity accounts. Prepare the necessary journal entries. If no i journal entry is required, select "No journal entry required" in the first input box.