Listed below are the transactions that affected the shareholders equity of Branch-Rickie Corporation during the period 20212023. At December 31, 2020, the corporations accounts included:

	($ in thousands)
Common stock, 104 million shares at $1 par	$	104,000
Paid-in capitalexcess of par		618,000
Retained earnings		830,000

1. November 1, 2021, the board of directors declared a cash dividend of $0.50 per share on its common shares, payable to shareholders of record November 15, to be paid December 1.
2. On March 1, 2022, the board of directors declared a property dividend consisting of corporate bonds of Warner Corporation that Branch-Rickie was holding as an investment. The bonds had a fair value of $1.8 million, but were purchased two years previously for $1.6 million. Because they were intended to be held to maturity, the bonds had not been previously written up. The property dividend was payable to shareholders of record March 13, to be distributed April 5.
3. On July 12, 2022, the corporation declared and distributed a 5% common stock dividend (when the market value of the common stock was $22 per share). Cash was paid in lieu of fractional shares representing 200,000 equivalent whole shares.
4. On November 1, 2022, the board of directors declared a cash dividend of $0.50 per share on its common shares, payable to shareholders of record November 15, to be paid December 1.
5. On January 15, 2023, the board of directors declared and distributed a 3-for-2 stock split effected in the form of a 50% stock dividend when the market value of the common stock was $23 per share.
6. On November 1, 2023, the board of directors declared a cash dividend of $0.35 per share on its common shares, payable to shareholders of record November 15, to be paid December 1.

Required: 1. Prepare the journal entries that Branch-Rickie recorded during the three-year period for these transactions. 2. Prepare comparative statements of shareholders equity for Branch-Rickie for the three-year period ($ in 000s). Net income was $350 million, $415 million, and $475 million for 2021, 2022, and 2023, respectively.

No	Date	General Journal	Debit	Credit
1	November 01, 2021	Retained earningsselected answer correct	52,000,000selected answer correct	not attempted
		Cash dividends payableselected answer correct	not attempted	52,000,000selected answer correct
2	November 15, 2021	No journal entry requiredselected answer correct	not attempted	not attempted
3	December 01, 2021	Cash dividends payableselected answer correct	52,000,000selected answer correct	not attempted
		Cashselected answer correct	not attempted	52,000,000selected answer correct
4	March 01, 2022	Investment in equity securitiesselected answer correct	200,000selected answer correct	not attempted
		Gain on investmentsselected answer correct	not attempted	200,000selected answer correct
5	March 01, 2022	Retained earningsselected answer correct	1,800,000selected answer correct	not attempted
		Property dividends payableselected answer correct	not attempted	1,800,000selected answer correct
6	March 13, 2022	No journal entry requiredselected answer correct	not attempted	not attempted
7	April 05, 2022	Property dividends payableselected answer correct	1,800,000selected answer correct	not attempted
		Investment in equity securitiesselected answer correct	not attempted	1,800,000selected answer correct
8	July 12, 2022	Retained earningsselected answer correct	96,800,000selected answer incorrect	not attempted
		Common stockselected answer correct	not attempted	5,000,000selected answer correct
		Paid-in capital - excess of parselected answer correct	not attempted	100,000,000selected answer incorrect
		Cashselected answer correct	not attempted	4,400,000selected answer correct
9	November 01, 2022	Retained earningsselected answer correct	not attempted	4,400,000selected answer incorrect
		Cash dividends payableselected answer correct	not attempted	not attempted
10	November 15, 2022	No journal entry requiredselected answer correct	not attempted	not attempted
11	December 01, 2022	Cash dividends payableselected answer correct	not attempted	not attempted
		Cashselected answer correct	not attempted	not attempted

BRANCH-RICKIE CORPORATION
Statement of Shareholders' Equity
For the Years Ended Dec. 31, 2021, 2022, and 2023 ($ in thousands)
	Common Stock	Additional Paid-in Capital	Retained Earnings	Total Shareholders' Equity
Jan. 1, 2021	$104,000selected answer correct	$618,000selected answer correct	$830,000selected answer correct	not attempted
Net income	not attempted	not attempted	not attempted	not attempted
Cash dividends	not attempted	not attempted	not attempted	not attempted
Dec. 31, 2021	104,000	618,000	830,000	0
Property dividends	not attempted	not attempted	not attempted	not attempted
Common stock dividend	not attempted	not attempted	not attempted	not attempted
Net income	not attempted	not attempted	not attempted	not attempted
Cash dividends	not attempted	not attempted	not attempted	not attempted
Dec. 31, 2022	104,000	618,000	830,000	0
3-for-2 split effected in the form of a stock dividend	not attempted	not attempted	not attempted	not attempted
Net income	not attempted	not attempted	not attempted	not attempted
Cash dividends	not attempted	not attempted	not attempted	not attempted
Dec. 31, 2023	$104,000	$618,000	$830,000	$0