Question: What am I doing Wrong ?! Problem 11-2A (Algo) Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Kohler Corporation reports


Problem 11-2A (Algo) Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Kohler Corporation reports the following components of stockholders' equity ot December 31, 2019. During 2020, the following transactions affected its stockholders' equity accounts. January 2 Purehased 4,500 shares of its own stock at $20 eash per fhare. record. February 28 pald the dividend deelared on January 5. July 6 seld 1,688 of its treasury whares at $24 eash per share. Auguit 22 sold 2 , 812 of iti treasury shares at $17 cash per ehare. record. Oesober 28 Paid the dividend declared on Eepteaher 5 . Required: 1. Prepare journal entries to record each of these transactions. 2. Prepare a statement of retained earnings for the year ended December 31, 2020. 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2020. \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|c|}{ KOHLER CORPORATION } \\ \hline \multicolumn{3}{|c|}{ Stockholders' Equity Section of the Balance Sheet } \\ \hline \multicolumn{3}{|c|}{ December 31, 2020} \\ \hline Commo & par value & $800,000 \\ \hline Paid-in & cess of par value, common stock & 70,000 \\ \hline Total co & pital & 870,000 \\ \hline Retaine & ( & 325,000 \\ \hline Total sto & quity & $1,195,000 \\ \hline \end{tabular}
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