Could someone please help me with ONLY Required $2$ of this problem, I was able to get the rest but was really struggling to find a correct value for common stock and retained earnings, thank you!The balance sheet of Consolidated Paper, Incorporated, included the following shareholders' equity accounts at December $31,2023$:

Paid$-$in capital:

Preferred stock, $8\mathrm{.}0\%,80,000$ shares at $$1$ par

Common stock, $303,000$ shares at $$1$ par

Paid$-$in capital$-$excess of par, preferred

Paid$-$in capital$-$excess of par, common

Retained earnings

Treasury stock, at cost; $3,000$ common shares

Total shareholders' equity

During $2024,$ several events and transactions affected the retained earnings of Consolidated Paper.

Required:

Prepare the appropriate entries for these events:

a$.$ On March $3,$ the board of directors declared a property dividend of $200,000$ shares of Leasco International common stock

that Consolidated Paper had purchased in January as an investment $($book value: $$390,000).$ The investment shares had a

fair value of $$2$ per share and were distributed March $31$ to shareholders of record March $15.$

b$.$ On May $3,$ a $5-$for$-4$ stock split was declared and distributed. The stock split was effected in the form of a $25\%$ stock

dividend. The market value of the $$1$ par common stock was $$10$ per share.

c$.$ On July $5,$ a $1\%$ common stock dividend was declared and distributed. The market value of the common stock was $$10$ per

share.

d$.$ On December $1,$ the board of directors declared the $8\mathrm{.}0\%$ cash dividend on the $80,000$ preferred shares, payable on

December $28$ to shareholders of record December $20.$

e$.$ On December $1,$ the board of directors declared a cash dividend of $$0\mathrm{.}40$ per share on its common shares, payable on

December $28$ to shareholders of record December $20.$

Prepare the shareholders' equity section of the balance sheet for Consolidated Paper, Incorporated at December $31,2024.$ Net

income for the year was $$700\mathrm{.}000.$

Prepare the shareholders' equity section of the balance sheet for Consolidated Paper, Incorporated at December $31,2024.$ Net

income for the year was $$700,000.$

Note: Negative amounts should be indicated by a minus sign.