Kohler Corporation reports the following components of stockholders’ equity on December 31, 2017. Common stock—$10 par value, 100,000 shares authorized, 40,000 shares issued and outstanding $ 400,000 Paid-in capital in excess of par value, common stock 60,000 Retained earnings 270,000 Total stockholders' equity $ 730,000 In year 2018, the following transactions affected its stockholders’ equity accounts. Jan. 1 Purchased 4,000 shares of its own stock at $20 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 1,500 of its treasury shares at $24 cash per share. Aug. 22 Sold 2,500 of its treasury shares at $17 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 $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 for 2018. 2. Prepare a statement of retained earnings for the year ended December 31, 2018. 3. Prepare the stockholders’ equity section of the company’s balance sheet as of December 31, 2018

1. The journal entries to record Kohler Corporation's stock transactions for the year, 2017, are as follows:

Jan. 1 Debit Treasury Stock $40,000

Debit  Additional Paid-in Capital $40,000

Credit Cash $80,000

Jan. 5 Debit Dividend $72,000

Credit Dividend Payable $72,000

Feb. 28 Debit Dividends Payable $72,000

Credit Cash $72,000

July 6 Debit Cash $36,000

Credit Treasury Stock $15,000

Credit Additional Paid-in Capital $21,000

Aug. 22 Debit Cash $42,500

Credit Treasury Stock $25,000

Credit Additional Paid-in Capital $17,500

Sept. 5 Debit Dividend $80,000

Credit Dividends Payable $80,000

Oct. 28 Debit Dividends Payable $80,000

Credit  Cash $80,000

Dec. 31 Debit Income Summary $388,000

Credit Retained Earnings $388,000

2. Statement of Retained Earnings for the year ended December 31, 2018:

Retained Earnings b/forward        $270,000

Net income                                       388,000

Dividends Paid (72,000 + 80,000) -152,000

Retained Earnings balance         $506,000

3. The Stockholders' Equity Section of Kohler Corporation's Balance Sheet as of December 31, 2018, is as follows:

100,000 authorized shares at $10 par value

Issued and outstanding:

40,000 shares at $10       $400,000

Additional Paid-in Capital  58,500

Retained Earnings            506,000

Total equity =                 $964,500

Data Analysis:

Authorized Common Stock, 100,000 shares at $10 par value

Issued and outstanding:

40,000 shares at $10  $400,000

Additional Paid-in Capital $60,000

Retained Earnings 270,000

Total equity = $730,000

Jan. 1 Treasury Stock $40,000 Additional Paid-in Capital $40,000 Cash $80,000 4,000 shares at $20

Jan. 5 Dividend $72,000 Dividend Payable $72,000 (36,000 shares at $2 per share

Feb. 28 Dividends Payable $72,000 Cash $72,000

July 6 Cash $36,000 Treasury Stock $15,000 Additional Paid-in Capital $21,000  1,500 treasury shares at $24

Aug. 22 Cash $42,500 Treasury Stock $25,000 Additional Paid-in Capital $17,500 2,500 treasury shares at $17

Sept. 5 Dividend $80,000 Dividends Payable $80,000  (40,000 x $2 per share)

Oct. 28 Dividends Payable $80,000 Cash $80,000

Dec. 31 Income Summary $388,000 Retained Earnings $388,000

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Explanation:

1.) Kindly check attached picture

2.) Statement of retained earning

Statement of Retained Earnings

For Year Ended December 31, 2018

Retained earnings, Dec. 31, 2017, 270,000

Add: Net income 388,000

Less: Cash dividends declared (152,000)

Less: Treasury stock reissuance (1,500)

Retained earnings, Dec. 31, 2018, 504,500

C.) Stockholders' Equity Section of the Balance Sheet

December 31, 2018

Common stock - $10 par value 400,000

Paid-in capital in excess of par value, common stock 60,000

Retained earnings 504,500

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i this its 7 years i hope this