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On January 1, 2018, Gerlach Inc. had the following account balances in its shareholders' equity accounts. Common stock, $1 par, 257,000 shares issued 257,000 Paid-in

On January 1, 2018, Gerlach Inc. had the following account balances in its shareholders' equity accounts.

Common stock, $1 par, 257,000 shares issued 257,000
Paid-in capital - excess of par, common 514,000
Paid-in capital - excess of par, preferred 135,000
Preferred stock, $100 par, 13,500 shares outstanding 1,350,000
Retained earnings 2,700,000
Treasury stock, at cost, 5,700 shares 28,500

During 2018, Gerlach Inc. had several transactions relating to common stock.

January 15: Declared a property dividend of 100,000 shares of Slowdown Company (book value $10.7 per share, fair value $9.35 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 Fair 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; fair 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

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