Please give an explanation on the answers that are wrong and those that are blank. Thank you.

Listed below are the transactions that affected the shareholders' equity of Branch-Rickie Corporation during the period 2021-2023. At December 31, 2020, the corporation's accounts included: Common stock, 113 million shares at $1 par Paid-in capital-excess of par Retained earnings ($ in thousands) $113,000 678,000 920,000 a. November 1, 2021, the board of directors declared a cash dividend of $0.50 per share on its common shares, payable to shareholders of record November 15, to be paid December 1. b. On March 1, 2022, the board of directors declared a property dividend consisting of corporate bonds of Warner Corporation that Branch-Rickie was holding as an investment. The bonds had a fair value of $2.9 million, but were purchased two years previously for $2.5 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, 2022, the corporation declared and distributed a 4% common stock dividend (when the market value of the common stock was $21 per share). Cash was paid in lieu of fractional shares representing 520,000 equivalent whole shares. d. On November 1, 2022, the board of directors declared a cash dividend of $0.50 per share on its common shares, payable to shareholders of record November 15, to be paid December 1. e. On January 15, 2023, the board of directors declared and distributed a 3-for-2 stock split effected in the form of a 50% stock dividend when the market value of the common stock was $22 per share. f. On November 1, 2023, the board of directors declared a cash dividend of $0.35 per share on its common shares, payable to shareholders of record November 15, to be paid December 1. Required: 1. Prepare the journal entries that Branch-Rickie recorded during the three-year period for these transactions. 2. Prepare comparative statements of shareholders' equity for Branch-Rickie for the three-year period ($ in 000s). Net income was $395 million, $460 million, and $520 million for 2021, 2022, and 2023, respectively. 7 April 05, 2022 2,900,000 Retained earnings Property dividends payable XX 2,900,000 8 July 12, 2022 94,920,000 3,000,000 Retained earnings Common stock Paid-in capital - excess of par Cash 87,000,000 10.920,000 9 58,000,000 November 01, 20. Retained earnings Cash dividends payable 58,000,000 10 November 15, 20. No journal entry required 11 58,000,000 December 01, 20 Cash dividends payable Cash 58,000,000 12 January 15, 2023 Retained earnings Common stock 13 November 01, 20. Retained earnings Cash dividends payable O 14 November 15, 20. No journal entry required 15 December 01, 20. Cash dividends payable Cash Required 1 Required 2 0 Prepare comparative statements of shareholders' equity for Branch-Rickie for the three-year period. Net income million, $460 million, and $520 million for 2021, 2022, and 2023, respectively. (Negative amounts should be indi minus sign. Enter your answers in thousands (000's).) BRANCH-RICKIE CORPORATION Statement of Shareholders' Equity For the Years Ended Dec. 31, 2021, 2022, and 2023 ($ in thousands) Additional Common Total Retained Stock Paid-in Earnings Shareholders' Capital Equity Jan. 1, 2021 $ 113,000 s 678,000 S 920,000 s 1,711,000 Net income 0 395,000 395,000 Cash dividends 0 (56,500) (56,500) Dec 31, 2021 113,000 678,000 1,258,500 2,049,500 Property dividends 0 (2,900) (2,900) Common stock dividend Net income Cash dividends Dec. 31, 2022 113,000 678,000 1,255,600 2,046,600 3-for-2 split effected in the form of a stock dividend Net income Cash dividends Dec. 31, 2023 $ 113,000 S 678,000 S 1,255,600 S 2,046,600