Problem $11-2$A $($Algo$)$ Cash dlvldends, treasury stock, and statement of retained earnings LO C$3,$ P$2,$ P$3$

Kohler Corporatlon reports the following components of stockholders' equity at December $31$ of the prior year.

Common stock$-$$$15$ par value, $169,690$ shares authorized, $45,699$ shares issued and outstanding

Paid$-$in capital in excess of par value, common stock

Retained earnings

Total stockholders' equity

During the current year, the following transactions affected Its stockholders' equity accounts.

January $2$ Purchased $4,699$ shares of its own stock at $$20$ cash per share.

January $5$ Directors declared a $$6$ 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 $2,690$ of its treasury shares at $$24$ cash per share.

August $22$ Sold $2,690$ of its treasury shares at $$16$ cash per share.

September $5$ Directors declared a $$6$ per share cash dividend payable on October $28$ to the September $25$ stockholders of

record.

October $28$ Paid the dividend declared on September $5.$

December $31$ Closed the $$388,690$ credit balance $($from net income$)$ in the Income Sumary account to Retained Earnings.

Required:

Prepare Journal entrles to record each of these transactions.

$2$ Prepare a statement of retalned earnings for the current year ended December $31.$

Prepare the stockholders' equity sectlon of the balance sheet as of December $31$ of the current year.

Complete this question by entering your answers in the tabs below.

Prepare journal entries to record each of these transactions.

Journal entry worksheet

Record the purchase of $4,000$ shares of its own common stock for

$$20$ cash per share.

Note: Enter deb's before credts.