During 2021, several events and transactions affected the retained earnings of Consolidated Paper. Requlred: 1. Prepare the approprlate entrles for these events. a. On March 3, the board of directors declared a property dividend of 250,000 shares of Leasco International common stock that Consolidated Paper had purchased in January as an Investment (book value: $981,000 ). The Investment shares had a fair value of $4 per share and were distrlbuted 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 dlvidend. The market value of the $1 par common stock was $12 per share. c. On July 5 , a 3% common stock dlvidend was declared and distributed. The market value of the common stock was $12 per share. d. On December 1, the board of directors declared the 6.5% cash dlvidend on the 89.000 preferred shares, payable on December 28 to shareholders of record December 20 . e. On December 1 , the board of directors declared a cash dlvidend of $0.40 per share on its common shares, payable on December 28 to shareholders of record December 20. 2. Prepare the shareholders' equlty sectlon of the balance sheet for Consolidated Paper, Inc., at December 31, 2021. Net Income for the year was $790,000. Complete this question by entering your answers in the tabs below. Prepare the appropriate entries for these events. (If no entry is required for a transaction/event, select "No joumal entry required" in the first account field.) Journal entry worksheet Note: Enter debits before credits. Prepare the shareholders' equlty section of the balance sheet for Consolidated Paper, Inc., at December 31, 2021. Net Income for th rear was $790,000. Complete this question by entering your answers in the tabs below. Prepare the shareholders' equity section of the balance sheet for Consolidated Paper, Inc. at December 31, 2021. Net income for the year was $790,000. (Negative amounts should be indicated by a minus sign.)