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Journal entry worksheet (02345678 > Record the entry to close the $368,000 credit balance (from net income) in the Income Summary account to Retained Earnings. Note: Enter debits before credits. Journal entry worksheet Record the payment of the cash dividend. Note: Enter debits before credits. Journal entry worksheet Record the payment of the cash dividend. Note: Enter debits before credits. Problem 11-2A 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, 2018. Common stock$20 par value, 100,000 shares authorized, 45,000 shares issued and outstanding $ 900,000 Paidin capital in excess of par value, common stock 70,000 Retained earnings 400,000 Total stockholders' equity $1,370,000 During 2019, the following transactions affected its stockholders' equity accounts. Jan. 2 Purchased 5,500 shares of its own stock at $25 cash per share. Jan. 5 Directors declared a $2 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 2,063 of its treasury shares at $29 cash per share. Aug. 22 Sold 3,437 of its treasury shares at $22 cash per share. Sept. 5 Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record. Oct. 28 Paid the dividend declared on September 5. Dec. 31 Closed the $368,000 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 year ended December 31,2019. 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2019. Required 1 Required 2 Required 3 Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2019. Total stockholders' equity Journal entry worksheet Record the declaration of a cash dividend of $2 per share. Note: Enter debits before credits. Journal entry worksheet Record the declaration of a cash dividend of $2 per share. Note: Enter debits before credits. Required 1 Required 2 Required 3 Prepare a statement of retained earnings for the year ended December 31, 2019. (Amounts to be deducted should be indicated by a minus sign.) Journal entry worksheet Record the purchase of 5,500 shares of its own common stock for $25 cash per share. Note: Enter debits before credits. Journal entry worksheet Record the reissue of 2,063 shares of the treasury stock for $29 cash per share. Note: Enter debits before credits. Journal entry worksheet Record the reissue of 3,437 shares of the treasury stock for $22 cash per share. Note: Enter debits before credits