P 18-5 Shareholders' equity transactions; statement of shareholders' equity; financial statement effects () LO18-6 through (5) LO18-8 Listed below are the transactions that affected the shareholders' equity of Branch-Rickic Corporation during the period 2024-2026. At December 31, 2023, the corporation's accounts included: a. November 1, 2024, the board of directors declared a cash dividend of $0.80 per share on its common shares, payable to shareholders of record November IS, to be paid December 1. b. On March 1, 2025, the board of directors declared a property dividend eonsisting of corporate bonds of Warner Corporation that Branch-Rickie was holding as an investment. The bonds had a fair value of $1.6 miltion, but were purchased two years previously for $1.3 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 12,2025, the corporation declared and distributed a 5% common stock dividend (when the market value of the common stock was $21 per share). Cash was paid in lieu of fractional shares representing 250,000 equivalent whole shares. d. On November 1.2025, the board of directors declared a cash dividend of $0.80 per share on its common shares, payable to shareholders of record November 15 , to be paid December 1 . c. On January 15, 2026, the board of directors declared and distributed a 3-for-2 stock split effected in the form of a 505 stock dividend when the market value of the common stock was $22 per share. f. On November 1, 2026, the board of directors declared a cash dividend of $0.65 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-Rickie recorded during the threeyear period for these transactions. 2. Prepare comparative statements of shareholders' equity for Branch-Rickie for the threeyear period ( $ in 000 s). Net income was $330 million, $395 million, and $455 million for 2024,2025 , and 2026, respectively