3. Please help with all 3 requirements and their parts. Pictures listed for work. Thanks! P

Part A In late 2023, the Nicklaus Corporation was formed. The corporate charter authorizes the issuance of 4,000,000 shares of common stock carrying a $1 par value, and 1,000,000 shares of $5 par value, noncumulative, nonparticipating preferred stock. On January 2 , 2024,2,000,000 shares of the common stock are issued in exchange for cash at an average price of $12 per share. Also on January 2 , all 1,000,000 shares of preferred stock are issued at $25 per share. Required: 1. Prepare journal entries to record these transactions. 2. Prepare the shareholders' equity section of the Nicklaus balance sheet as of March 31, 2024. (Assume net income for the first quarter 2024 was $1,050,000.) Part B During 2024 , the Nicklaus Corporation participated in three treasury stock transactions: a. On June 30, 2024, the corporation reacquires 280,000 shares for the treasury at a price of $14 per share. b. On July 31,2024,40,000 treasury shares are reissued at $17 per share. c. On September 30, 2024, 40,000 treasury shares are reissued at $12 per share. Required: 1. Prepare journal entries to record these transactions. 2. Prepare the Nicklaus Corporation shareholders' equity section as it would appear in a balance sheet prepared at September 30 , 2024. (Assume net income for the second and third quarter was $2,500,000.) Part C On October 1, 2024, Nicklaus Corporation receives permission to replace its $1 par value common stock (4,000,000 shares authorized, 2,000,000 shares issued, and 1,800,000 shares outstanding) with a new common stock issue having a $0.50 par value. Since the new par value is one-half the amount of the old, this represents a 2 -for-1 stock split. That is, the shareholders will receive two shares of the $0.50 par stock in exchange for each share of the $1 par stock they own. The $1 par stock will be collected and destroyed by the issuing corporation.) On November 1, 2024, the Nicklaus Corporation declares a $0.04 per share cash dividend on common stock and a $0.20 per share cash dividend on preferred stock. Payment is scheduled for December 1, 2024, to shareholders of record on November 15 , 2024. On December 2, 2024, the Nicklaus Corporation declares a 2\% stock dividend payable on December 28, 2024, to shareholders of record on December 14 . At the date of declaration, the common stock was selling in the open market at $12 per share. The dividend will result in 72,000(0.023,600,000) additional shares being issued to shareholders. Required: 1. Prepare journal entries to record the declaration and payment of these stock and cash dividends. 2. Prepare the December 31,2024 , shareholders' equity section of the balance sheet for the Nicklaus Corporation. (Assume net income for the fourth quarter was $2,000,000.) 3. Prepare a statement of shareholders' equity for Nicklaus Corporation for 2024. Prepare journa entries to record these transactions. MNote: If no entry is required for a transaction/event, select "No journal e Record the issuance of common shares. 2 Record the issuance of preferred shares. Prepare the shareholders' equity section of the Nicklaus balan quarter 2024 was $1,050,000.) Prepare journal entries to record the e transactions. Note: If no entry is required for a tyansaction/event, select "No journal entry 1 Record acquisition of treasury stock. 2 Record the reissuance of 40,000 treasury shares on July 31st. 3 Record the reissuance of 40,000 treasury shares on September 30th. Note: = journal entry has been entered Prepare the Nicklaus Corporation shareholders' equity section as it 30, 2024. (Assume net income for the second and third quarter wa Prepare journal entries to record the declaration and paymght of these stock and Note: If no entry is required for a transaction/event, sele t "No journal entry requi 1 Record the entry for the 2 -for-1 stock split. 2 Record declaration of cash dividend for common shares and preferred shares. 3 Record the entry on date of record. 4 Record payment of cash dividend for common shares and preferred shares. 5 Record declaration of common stock dividend. 6 Record distribution of common stock dividend. Note: = journal entry has been entered Prepare the December 31,2024 , shareholders' equity section of the balance sheet for income for the fourth quarter was $2,000,000.) Prepare a statement of shareholders' equity for Nicklaus Corporation for 2024. Note: Enter your answers in thousands. Amounts to be deducted should be indicated with a minas sign