Listed below are the transactions that affected the shareholders' equity of Branch-Rickie Corporation during the period 2021-2023. At December 31, 2020, the corporation's accounts included:

($ in thousands)Common stock, 101 million shares at $1 par$101,000Paid-in capital?excess of par600,000Retained earnings800,000

1. November 1, 2021, the board of directors declared a cash dividend of $0.60 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 $1.4 million, but were purchased two years previously for $1.2 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 6% common stock dividend (when the market value of the common stock was $18 per share). Cash was paid in lieu of fractional shares representing 60,000 equivalent whole shares.
4. On November 1, 2022, the board of directors declared a cash dividend of $0.60 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 $19 per share.
6. On November 1, 2023, the board of directors declared a cash dividend of $0.45 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 $335 million, $400 million, and $460 million for 2021, 2022, and 2023, respectively.

1 Record declaration of cash dividend.

2 Record the entry on date of record.

Note: Enter debits before credits.

DateGeneral JournalDebitCreditNovember 15, 2021

3 Record payment of cash dividend.

Note: Enter debits before credits.

4 Record appreciation of investment.

Note: Enter debits before credits.

5 Record declaration of property dividends.

Note: Enter debits before credits.

6 Record the entry on date of record.

Note: Enter debits before credits.

7 Record distribution of property dividends.

Note: Enter debits before credits.

8 Record declaration and distribution of stock dividend and settlement of fractional shares.

Note: Enter debits before credits.

9 Record declaration of cash dividend.

10 Record the entry on date of record.

Note: Enter debits before credits.

DateGeneral JournalDebitCreditNovember 15, 2022

11 Record payment of cash dividend.

12 Record declaration and distribution of stock split effected in the form of stock dividend.

13Record declaration of cash dividend.

14 Record the entry on the date of record.

15 Record payment of cash dividend.

Part 2