Kohler Corporation reports the following components of stockholders' equity on December 31, 2013:
|
|
Common stock-$20 par value, 100,000 shares authorized, 55,000 shares issued and outstanding
|
$ |
1,100,000 |
| Paid-in capital in excess of par value, common stock |
|
60,000 |
| Retained earnings |
|
400,000 |
|
|
|
| Total stockholders' equity |
$ |
1,560,000 |
|
|
|
|
| In year 2014, the following transactions affected its stockholders' equity accounts. |
|
| Jan. |
1 |
|
Purchased 4,500 shares of its own stock at $20 cash per share. |
| Jan. |
5 |
|
Directors declared a $6 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 $24 cash per share. |
| Aug. |
22 |
|
Sold 2,812 of its treasury shares at $17 cash per share. |
| Sept. |
5 |
|
Directors declared a $6 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.
|