Problem 18-5 (Algo) Shareholders' equity transactions; statement of shareholders' equity (L018-6, 18-7, 18-8] Listed below are the transactions that affected the shareholders' equity of Branch-Rickle Corporation during the period 2021-2023. At December 31, 2020, the corporation's accounts Included: Common stock, 117 million shares at $1 par Paid-in capital-excess of par Retained earnings ($ in thousands ) $117,000 702,000 960,000 8. November 1, 2021, the board of directors declared a cash dividend of $0.90 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 Corpodation that Branch-Rickle was holding as an investment. The bonds had a fair value of $3.3 million, but were purchased two years previously for $2.9 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 6% common stock dividend (when the market value of the common stock was $16 per share). Cash was paid in lieu of fractional shares representing 20,000 equivalent whole shares. d. On November 1, 2022, the board of directors declared a cash dividend of $0.90 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 $17 per share. 1. On November 1, 2023, the board of directors declared a cash dividend of $0.75 per share on its common shares, payable to Required: 1. Prepare the journal entries that Branch-Rickle recorded during the three-year period for these transactions. 2. Prepare comparative statements of shareholders' equity for Branch-Rickie for the three-year period ($ in 000s). Net income was $415 million, $480 million, and $540 million for 2021, 2022, and 2023, respectively. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the journal entries that Branch-Rickle recorded during the three-year period for these transactions. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answers in whole dollars.) View transaction list SES 1 Record declaration of cash dividend. 2 Record the entry on date of record. 3 Record payment of cash dividend. 4 Record appreciation of investment. Required 1 Required 2 Prepare the journal entries that Branch-Rickle recorded during the three-year period for these transactions. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answers in whole dollars. View transaction list 5 Record declaration of property dividends. 6 Record the entry on date of record. 7 Record distribution of property dividends. 8 Record declaration and distribution of stock dividend and settlement of fractional shares. Credit 9 Record declaration of cash dividend. 10 Record the entry on date of record. 11 Record payment of cash dividend. Required 1 Required 2 Prepare the journal entries that Branch-Rickle recorded during the three-year period for these transactions. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answers in whole dollars) View transaction list 9 Record declaration of cash dividend. 10 Record the entry on date of record. 11 Record payment of cash dividend. 12 Record declaration and distribution of stock split affected in the form of stock dividend. Credit 13 Record declaration of cash dividend. 14 Record the entry on the date of record. 15 Record payment of cash dividend. Required 1 Required 2 Prepare comparative statements of shareholders' equity for Branch-Rickie for the three-year period. Net Income was $415 million, $480 million, and $540 million for 2021, 2022, and 2023, respectively. (Negative amounts should be indicated by a minus sign. Enter your answers in thousands (000's).) BRANCH-RICKIE CORPORATION Statement of Shareholders' Equity For the Years Ended Dec. 31, 2021, 2022, and 2023 ($ in thousands) Common Additional Retained Stock Paid-in Capital Earnings Total Shareholders Equity Jan. 1, 2021 Net income 11 Cash dividends Dec. 31, 2021 0 000 Property dividends Common stock dividend Net income Cash dividends Dec. 31, 2022 No 000 3-for-2 split effected in the form of a stock dividend H D Net income Cash dividends Dec 31, 2023 SO SO S 0 $0 TUTTI