----------------- QUESTION 2 -----------------------------------------------------

Prepare the journal entry, if any, that Rina recorded at the time of the stock split. Note: 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 and not in millions. Journal entry worksheet Record the stock split effected in the form of a stock dividend. Note: Enter debits before credits. If Rina's stock price had been $52 at the time of the split, what would be its approximate value after the split (other things equal)? Note: Enter your answer in dollars rounded to 2 decimal places. Comparative statements of retained earnings for Renn-Dever Corporation were as follows: At December 31, 2023, common shares consisted of the following: Required: Infer from the reports the events and transactions that affected Renn-Dever Corporation's retained earnings during 2024, 2025, and 2026. Prepare the journal entries that reflect those events and transactions. (Hint: In lieu of revenues and expenses, use an account titled "Income summary" to close net income or net loss.) Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Rina Financial Corporation is the parent company of Rina Bank. The company's stock split was announced in the following wire: LOS ANGELES January 20 BUSINESS WIRE-Rina Financial Corporation (Nasdaq), announced that the Board of Directors has approved a two-for-one stock split, to be effected in the form of a 100 percent common stock dividend. Rina Financial Corporation stockholders of record at the close of business on January 31 will receive one additional share of common stock for every share of common stock then held. Distribution of additional shares issued as a result of the split is expected to occur on or about February 15. At the time of the stock split, 40.5 million shares of common stock, $0.001 par per share, were outstanding. Required: 1. Prepare the journal entry, if any, that Rina recorded at the time of the stock split. 2. If Rina's stock price had been $52 at the time of the split, what would be its approximate value after the split (other things equal)