On January 1, 2021, Gerlach Inc. had the following account balances in its shareholders' equity accounts. Common stock, $1 par, 248,000 shares issued Paid-in capital-excess of par, common Paid-in capital-excess of par, preferred Preferred stock, $100 par, 16,000 shares outstanding Retained earnings Treasury stock, at cost, 4,800 shares $ 248,000 496,000 160,000 1,600,000 3,200,000 24,000 During 2021, Gerlach Inc. had several transactions relating to common stock. January 15: Declared a property dividend of 100,000 shares of slowdown Company (book value $11.2 per share, fair value $9.60 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. July 18: Declared and distributed a 38 stock dividend on outstanding common stock; fair value per share, $5. December 11 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 field.) View transaction list