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 000s) Common stock, 115 million shares at $1 par Paid-in capital-excess of par Retained earnings $115,000 690,000 940,000 a. November 1, 2018, the board of directors declared a cash dividend of $0.70 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 $3.1 million, but were purchased two years previously for $2.7 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 d. On November 1, 2019, the board of directors declared a cash dividend of $0.70 per share on its common shares, payable to 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 f. On November 1, 2020, the board of directors declared a cash dividend of $0.55 per share on its common shares, payable to stock was $23 per share). Cash was paid in lieu of fractional shares representing 750,000 equivalent whole shares. shareholders of record November 15, to be paid December 1 dividend when the market value of the common stock was $24 per share 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 $405 million, $470 million, and $530 million for 2018, 2019, and 2020, respectively Journal entry worksheet 123 4 5 678 15 Record declaration of cash dividend. Note: Enter debits before credits. Date General Journal Debit Credit November 01, 2018 Record entry Clear entry View general journal Journal entry worksheet 1|2|3 4 5 6 7 8 15 Record the entry on date of record. Note: Enter debits before credits. Date General Journal Debit Credit November 15, 2018 Record entry Clear entry View general journal Journal entry worksheet 23 456 78 15 Record payment of cash dividend. Note: Enter debits before credits. Date General Journal Debit Credit December 01, 2018 Record entry Clear entry View general journal Journal entry worksheet K12345 678 15 Record appreciation of investment. Note: Enter debits before credits. Date General Journal Debit Credit March 01, 2019 Record entry Clear entry View general journal Journal entry worksheet K123 4 56 78 15 Record declaration of property dividends Note: Enter debits before credits. Date General Journal Debit Credit March 01, 2019 Record entry Clear entry View general journal Journal entry worksheet K23 5678 15 Record the entry on date of record Note: Enter debits before credits. Date General Journal Debit Credit March 13, 2019 Record entry Clear entry View general journal Journal entry worksheet 123 4 5678 Record distribution of property dividends. 15 Note: Enter debits before credits. Date General Journal Debit Credit April 05, 2019 Record entry Clear entry View general journal Journal entry worksheet K123 4 5 678.... 15 Record declaration and distribution of stock dividend and settlement of fractional shares. Note: Enter debits before credits Date General Journal Debit Credit July 12, 2019 Record entry Clear entry View general journal Journal entry worksheet Record declaration of cash dividend Note: Enter debits before credits. Date General Journal Debit Credit November 01, 2019 Record entry Clear entry View general journal Journal entry worksheet Record the entry on date of record. Note: Enter debits before credits. Date General Journal Debit Credit November 15, 2019 Record entry Clear entry View general journal Journal entry worksheet Record payment of cash dividend. Note: Enter debits before credits. Date General Journal Debit Credit December 01, 2019 Record entry Clear entry View general journal Journal entry worksheet Record declaration and distribution of stock split effected in the form of stock dividend. Note: Enter debits before credits. Date General Journal Debit Credit January 15, 2020 Record entry Clear entry View general journal Journal entry worksheet Record declaration of cash dividend Note: Enter debits before credits. Date General Journal Debit Credit November 01, 2020 Record entry Clear entry View general journal Journal entry worksheet Record the entry on the date of record. Note: Enter debits before credits. Date General Journal Debit Credit November 15, 2020 Record entry Clear entry View general journal BRANCH-RICKIE CORPORATION Statement of Shareholders' Equity For the Years Ended Dec. 31, 2018, 2019, and 2020 Common Retained Stock Paid-in Capital Earnings Total Shareholders ul Additional Jan. 1, 2018 Net income Cash dividends Dec. 31, 2018 Property dividends Common stock dividend Net income Cash dividends Dec. 31, 2019 3-for-2 split effected in the form of a stock dividend Net income Cash dividends Dec. 31, 2020