need help with sections 1, 2 & 3

Kohler Corporation reports the following components of stockholders' equity at December 31 of the prior year Common stack-$10 par value, 100,000 shares authorized, 40,eee shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 499,000 60,000 278,00 $ 230.000 During the current year, the following transactions affected its stockholders' equity accounts January 2 Purchased 4,000 shares of its own stock at $20 cash per share. January 5 Directors declared a 52 per share cash dividend payable on February 28 to the February 5 stockholders of record February 28 Paid the dividend declared on January 5. July 6 Sold 2,000 of its treasury shares at $24 cash per share August 22 Sold 2.ee of its treasury shares at 316 cash per share. September 5 Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record. October 28 Paid the dividend declared on September S. December 31 Closed 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 2. Prepare a statement of retained earnings for the current year ended December 31 3. Prepare the stockholders' equity section of the balance sheet as of December 31 of the current year KOHLER CORPORATION Statement of Retained Earnings For Current Year Ended December 31 Retained earnings, December 31, prior year Add: Net income Less: Cash dividends declared Retained earnings, December 31, current year $ 0 2. 3 4 5 6 7 8 > Record the purchase of 4,000 shares of its own common stock for $20 cash per share. N 3 3 4 to 5 7 00 8 Record the declaration of a cash dividend of $2 per share. Record the payment of the cash dividend. Note: Enter debits before credits. Record the reissue of 2,000 shares of the treasury stock for $24 cash per share. Note Enter Webits before credits Debit Credit Date General Journal July 06 Record the reissue of 2,000 shares of the treasury stock for $16 cash per share. Note: Enter debits before credits. Date General Journal Debit Credit August 22 Record the declaration of a cash dividend of $2 per share. Note: Enter debits before credits. General Journal Debit Credit Date September 05 Record the payment of the cash dividend. Record the entry to close the $388,000 credit balance (from net income) in the Income Summary account to Retained Earnings. Note: Enter debits before credits. General Journal Debit Credit Date December 31