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The balance sheet of Consolidated Paper, Inc. included the following shareholders' equity accounts at December 31, 2020: Paid in capital! Preferred stock, 7.05, 91,000 shares at $1 par Connon stock, 414,100 shares at 51 par Paid in capital-excess of par, preferred Paid-in capital-excess of par, como Retained earnings Treasury stock, at cost: 4,100 common shares Total shareholders' equity 91,0ee 414,100 1,525,000 2,575,000 9,045,000 (41,000) $13,609,100 During 2021, several events and transactions affected the retained earnings of Consolidated Paper Required: 1. Prepare the appropriate entries for these events. a. On March 3, the board of directors declared a property dividend of 255,000 shares of Leasco International common stock that Consolidated Paper had purchased in January as an investment (book value: $744,000). The investment shares had a fair value of $3 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. e 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 70% cash dividend on the 91,000 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 $0.40 per share on its common shares, payable on December 28 to shareholders of record December 20