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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:

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, 106 million shares at $1 par $ 106,000
Paid-in capitalexcess of par 636,000
Retained earnings 850,000

  1. November 1, 2021, 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.
  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 $2.0 million, but were purchased two years previously for $1.8 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.
  3. On July 12, 2022, the corporation declared and distributed a 6% common stock dividend (when the market value of the common stock was $24 per share). Cash was paid in lieu of fractional shares representing 360,000 equivalent whole shares.
  4. On November 1, 2022, 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.
  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 $25 per share.
  6. On November 1, 2023, the board of directors declared a cash dividend of $0.55 per share on its common shares, payable to shareholders of record November 15, to be paid December 1.

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December 31, 2020, the corporation's accounts included: Common stock, 186 million shares at $1 par Paid-in capital-excess of par Retained earnings (5 in thousands) $106,000 636,000 850,000 a. November 1, 2021, 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, 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 $2.0 million, but were purchased two years previously for $1.8 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, 2022, the corporation declared and distributed a 6% common stock dividend (when the market value of the common stock was $24 per share). Cash was paid in lieu of fractional shares representing 360.000 equivalent whole shares. d. On November 1, 2022, 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. e. 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 $25 per share. f. On November 1, 2023, the board of directors declared a cash dividend of $0.55 per share on its common shares, payable to shareholders of record November 15, to be paid December 1. Required: 1. Prepare the journal entries that Branch-Rickle recorded during the three-year period for these transactions. 2. Prepare comparative statements of shareholders' equity for Branch-Rickie for the three-year period ($ in 000s). Net income was $360 million, $425 million, and $485 million for 2021, 2022 and 2023, respectively. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare comparative statements of shareholders' equity for Branch-Rickie for the three-year period. Net income was $360 million, $425 million, and $485 million for 2021, 2022, and 2023, respectively. (Negative amounts should be indicated by a minus sign. Enter your answers in thousands (000's).) Total Shareholders' Equity 0 0 Statement of Shareholders' Equity For the Years Ended Dec. 31, 2021 2022, and 2023 ($ in thousands) Common Additional Retained Stock Paid-in Capital Earnings Jan 1, 2021 $ 106,000 Net income Cash dividends Dec. 31, 2021 106,000 0 Property dividends Common stock dividend Net income Cash dividends Dec 31, 2022 106,000 0 3-for-2 split effected in the form of a stock dividend Net income Cash dividends Dec. 31, 2023 $ 106,000 $ $ 0 0 0 0 $ 0

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