2. Problem 18-5 (Algo) Shareholders' equity transactions; statement of shareholders' equity (L018-6, 18-7, 18-8] ts Listed below are the transactions that affected the shareholders' equity of Branch Rickle Corporation during the period 2021-2023. At December 31, 2020, the corporation's accounts included: cBOOK Common stock, 100 million shares at 11 par Pald-in capital excess of par Retained earnings (5 in thousands) $109,000 654,000 880,000 Print References a November 1, 2021, the board of directors declared a cash dividend of SO 80 per share on its common shares, payable to shareholders of record November 15, to be paid December 1 b On March 1, 2022, the board of directors declared a property dividend consisting of corporate bonds of Warner Corporation that Branch Rickie was holding as an investment. The bonds had a fair value of $24 million, but were purchased two years previously for $2.1 million. Decause they were intended to be held to maturity, the bonds had not been previously written up. The property dividend was payable to shareholders of record March 13, to be distributed April 5 c. On July 12. 2022, the corporation declared and distributed a 6% common stock dividend (when the market value of the common stock was $16 per share) Cash was paid in lieu of fractional shares representing 540,000 equivalent whole shares d. On November 1, 2022. the board of directors declared a cash dividend of $0 80 per Share on its common shares, payable to shareholders of record November 15. to be paid December 1 On January 15 2023, the board of director declared and distributed for 2 stock to effected in the form of a 50% stock on November 1, 2023, the board of directors declared a cach dividend of $0.05 per share on its common shares, payable to Shareholders of record November 15, to be paid December 1 Required: 1. Prepare the joumal entries that Branch Rickie recorded during the three year period for these transactions 2. Prepare comparative statements of shareholders equity for Branch Rickie for the three year pohod (5 in 00s). Net income was $375 million $440 million and $500 million for 2021 2022 and 2023, respectively Complete this question by entering your answers in the tots below. Required Required vvv AM 6 March 13, 2022 No journal entry required > 7 April 05, 2022 2,400,000 Property dividends payable Investment in equity securities 2,400,000 8 July 12, 2022 138,240,000 Retained earnings Common stock Paid-in capital - excess of par Cash OOO 8,100,000 121,500,000 8,640.000 9 93,680,000 November 01, 20 Retained earnings Cash dividends payable 93,680,000 10 November 15, 20 No Journal entry required 11 93,680,000 December 01, 20 Cash dividends payable Cash o 93,680,000 12 58,550,000 January 15, 2023 Pald-in capital - excess of par Common stock O 58,550,000 13 114,172,500 3 November 01.20. Retained earnings Cash dividends payable 114,172,500 14 November 15, 20 No journal entry required 15 114,172,500 December 01,20 Cash dividends payable Cash 114 172,500 len Required 2 > Me 2 of 2