Kohler Corporation reports the following components of stockholders' equity on December 31, 2015:

Dhanalakshmi · June 4, 2019, 6:30am

Kohler Corporation reports the following components of stockholders’ equity on December 31, 2015:

Common stock-$20 par value, 100,000 shares authorized, 50,000 shares issued and outstanding	$1,000,000
Paid-in capital in excess of par value, common stock	80,000
Retained earnings	400,000
Total stockholders’ equity	$1,480,000

In year 2016, the following transactions affected its stockholders’ equity accounts.

Jan. 1	Purchased 4,500 shares of its own stock at $25 cash per share.
Jan. 5	Directors declared a $4 per share cash dividend payable on Feb. 28 to the Feb. 5 stockholders of record.
Feb. 28	Paid the dividend declared on January 5.
July 6	Sold 1,688 of its treasury shares at $29 cash per share
Aug. 22	Sold 2,812 of its treasury shares at $22 cash per share.
Sept. 5	Directors declared a $4 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