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On January 1, 2016, Gerlach Inc. had the following account balances in its shareholders' equity accounts. Common stock, $1 par, 243,000 shares issued 255000 Paid-in

On January 1, 2016, Gerlach Inc. had the following account balances in its shareholders' equity accounts.

Common stock, $1 par, 243,000 shares issued 255000
Paid-in capital - excess of par, common 510,000
Paid-in capital - excess of par, preferred 125,000
Preferred stock, $100 par, 18,500 shares outstanding 1250000
Retained earnings 2500,000
Treasury stock, at cost, 4,300 shares 27,500

During 2016, Gerlach Inc. had several transactions relating to common stock.

January 15:

Declared a property dividend of 100,000 shares of Slowdown Company (book value $11.7 per share, market value $9.85 per share).

February 17:

Distributed the property dividend.

April 10:

A 2-for-1 stock split was declared and distributed on outstanding common stock and effected in the form of a stock dividend. The market value of the stock was $4 on this date. Hint: Debit Retained earnings.

July 18:

Declared and distributed a 3% stock dividend on outstanding common stock; market value per share, $5.

December 1:

Declared a 50 cents per share cash dividend on the outstanding common shares.

December 20:

Paid the cash dividend.

Required:

Record the above transactions and events in journal entry format. (If no entry is required for a transaction/event, select "No journal entry required" in the first account f

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