Listed below are the transactions that affected the shareholders' equity of Branch-Rickie Corporation during the period 2018-2020. At December 31, 2017, the corporation's accounts included: ($ in 0003) 1.66 points Common stock, 116 million shares at $1 par Paid-in capital-excess of par Retained earnings $116,000 696,000 950,000 eBook Print References a. November 1, 2018, the board of directors declared a cash dividend of $0.80 per share on its common shares, payable to shareholders of record November 15, to be paid December 1. b. On March 1, 2019, 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 $3.2 million, but were purchased two years previously for $2.8 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. c. On July 12, 2019, the corporation declared and distributed a 5% common stock dividend (when the market value of the common stock was $24 per share). Cash was paid in lieu of fractional shares representing 800,000 equivalent whole shares. d. On November 1, 2019, the board of directors declared a cash dividend of $0.80 per share on its common shares, payable to shareholders of record November 15, to be paid December 1. e. On January 15, 2020, 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 $25 per share. f. On November 1, 2020, the board of directors declared a cash dividend of $0.65 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. Net income was $410 million, $475 million, and $535 million for 2018, 2019, and 2020, respectively. Complete this question by entering your answers in the tabs below. Required 1 Required 2 No General Journal Debit Credit Date November 01, 2018 92,800,000 Retained earnings Cash dividends payable dividends payable 92,800,000 1.66 points November 15, 2018 No journal entry required December 01, 2018 Cash dividends payable 92,800,000 eBook Cash 92,800,000 400,000 Print March 01, 2019 Investment in Warner bonds Gain on appreciation of investment 400,000 References 5 3,200,000 March 01, 2019 Retained earnings Property dividends payable 3,200,000 March 13, 2019 No Transaction Recorded April 05, 2019 3,200,000 Property dividends payable Investment in Warner bonds 3,200,000 July 12, 2019 460,800,000 Retained earnings Common stock Paid-in capital-excess of par Cash 19,120,000 439,760,000 19,200,000 November 01, 2019 Retained earnings Cash dividends payable November 15, 2019 No journal entry required December 01, 2019 Cash dividends payable Cash points Paid-in capitalexcess of par Cash 439,760,000 19,200,000 November 01, 2019 eBook Retained earnings Cash dividends payable Print November 15, No journal entry required 2019 References December 01, 2019 Cash dividends payable Cash 12 January 15, 2020 Retained earnings Common stock November 01, 2020 Retained earnings Cash dividends payable November 15, 2020 No journal entry required December 01, 2020 Cash dividends payable Cash Required 1 Required 2 > Complete this question by entering your answers in the tabs below. 1.66 points Required 1 Required 2 Prepare comparative statements of shareholders' equity for Branch-Rickie for the three-year period. Net income was $410 million, $475 million, and $535 million for 2018, 2019, and 2020, respectively. (Negative amounts should be indicated by a minus sign. Enter your answers in thousands (000's).) eBook Print References BRANCH-RICKIE CORPORATION Statement of Shareholders' Equity For the Years Ended Dec. 31, 2018, 2019, and 2020 Common Additional Total Paid-in Retained Shareholders Stock Capital Earnings Equity Jan. 1, 2018 Net income Cash dividends Dec. 31, 2018 0 0 Property dividends Common stock dividend Net income Cash dividends Dec. 31, 2019 000 3-for-2 split effected in the form of a stock dividend Net income Cash dividends Dec. 31, 2020 $ 0 % 0 % 0 % 0