On October 1, 2021, Nicklaus Corporation receives permission to replace its $1 par value common stock (5,000,000 shares authorized, 3,000,000 shares issued, and 2,900,000 shares outstanding) with a new common stock issue having a $0.50 par value. Since the new par value is one-half the amount of the old, this represents a 2-for-1 stock split. That is, the shareholders will receive two shares of the $0.50 par stock in exchange for each share of the $1 par stock they own. The $1 par stock will be collected and destroyed by the issuing corporation. On November 1, 2021, the Nicklaus Corporation declares a $0.12 per share cash dividend on common stock and a $0.29 per share cash dividend on preferred stock. Payment is scheduled for December 1, 2021, to shareholders of record on November 15, 2021. On December 2, 2021, the Nicklaus Corporation declares a 2% stock dividend payable on December 28, 2021, to shareholders of record on December 14. At the date of declaration, the common stock was selling in the open market at $10 per share. The dividend will result in 116,000 (0.02 5,800,000) additional shares being issued to shareholders.

Prepare a statement of shareholders' equity for Nicklaus Corporation for 2021.

NICKLAUS CORPORATION Statement of Shareholders' Equity For the Year Ended Dec. 31, 2021 ($ in thousands) Additional Common Paid-in Retained Stock Capital Earnings Total Preferred Shareholders' Treasury Stock Stock Equity Jan. 2, 2021 Issuance of preferred stock Issuance of common stock 0 0 0 0 0 0 0 0 Purchase of treasury stock Sale of treasury stock Net income 0 0 0 0 0 0 0 Common cash dividends 0 0 0 0 Preferred cash dividends 0 0 0 0 Stock dividend 0 0 December 31, 2021 0 0 0 0 0 0