Please solve it as soon as possible

ZIP Company owns 45,000 shares of the common stock of PIK Company. ZIP decided to divest itself of this investment by distributing the PIK shares in the form of a property dividend. The dividend ratio is one share of PIK for every four shares of ZIP common held by shareholders. ZIP has 180,000 common shares outstanding. On April 15, 2021, the date of declaration, PIK stock had a par of s5 per share a book value of $12.5 per share and a fair value of $175 per share. Required: Prepare any necessary journal entries. The shares were distributed on May 15, 2021, to stockholders of record on May 1, 2021 of no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 Record appreciation of investment. Noter Cote debitsbelere credits Date General Journal Debit Grudit April 15, 2021 View transaction list Journal entry worksheet Record declaration of property dividend. Note: Enter debits before credits. Date General Journal Debit Credit April 15, 2021 Record entry Clear entry View general Journal View transaction list Journal entry worksheet Record the payment of the property dividend. Note: Enter debits before credits General Journal Debit Credit Date May 15, 2021 Record entry Clear entry View general journal