In late $2023,$ the Nicklaus Corporation was formed. The corporate charter authorizes the issuance

of $5,000,000$ shares of common stock carrying a $$1$ par value, and $1,000,000$ shares of $$5$ par value,

noncumulative, nonparticipating preferred stock. On January $2,2024,3,000,000$ shares of the

common stock were issued in exchange for cash at an average price of $$10$ per share. Also on

January $2,$ all $1,000,000$ shares of preferred stock were issued at $$20$ per share.

During $2024,$ the Nicklaus Corporation participated in three treasury stock transactions:

$1.$ On June $30,2024,$ the corporation reacquired $200,000$ shares for the treasury at a price of

$$12$ per share.

$2.$ On July $31,2024,50,000$ treasury shares were reissued at $$15$ per share.

$3.$ On September $30,2024,50,000$ treasury shares were reissued at $$10$ per share.

On October $1,2024.$ Nicklaus Corporation received permission to replace its $$1$ par value common

stock with a new common stock issue in a $2-$for$-1$ stock split. The $$1$ par stock will be collected and

destroyed by Nicklaus.

On November $1,2024,$ the Nicklaus Corporation declared a $$0\mathrm{.}05$ per share cash dividend on

common stock and a $$0\mathrm{.}25$ 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 $1\%$ 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 $$10$ per share.

Required:

Prepare the December $31,2024,$ shareholders' equity section of the balance sheet for the Nicklaus

Corporation. Net income for the first quarter of $2024$ was $$1,000,000$; net income for the second

and third quarters totaled $$3,000,000$ and net income for the fourth quarter was $$2,500,000.$ Specifically I would like information on the section about accounting for stock split, cash dividends and stock dividends.