Required 1 Part A Required 2 Part A Required 1 Part B Required 2 Part B Required 1 Part C Required 2 Part C Required 3 Part C Prepare journal entries to record these transactions. (If no entry is required for a particular transaction, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet No Credit Date January 02 Debit 40,000,000 General Journal Cash Common stock Paid-in capitalexcess of par, common 4,000,000 36,000,000 2 January 02 Cash 60,000,000 Preferred stock Paid-in capital-excess of par, preferred 10,000,000 50,000,000 Required 1 Part A Required 2 Part A Required 1 Part B Required 2 Part B Required 1 Part C Required 2 Part C Required 3 Part C Prepare journal entries to record these transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet No General Journal Credit Date June 30 Debit 3,480,000 Treasury stock Cash 3,480,000 2 July 31 Cash 675,000 Treasury stock Paid-in capital-share repurchase 540,000 135,000 3 September 30 Cash Paid-in capital-share repurchase Treasury stock 450,000 90,000 540,000 Part C On October 1, 2018, Nicklaus Corporation receives permission to replace its $1 par value common stock (6,000,000 shares authorized, 4,000,000 shares issued, and 3,800,000 shares outstanding) with a new common stock issue having a $.50 par value. Since the new par value is one-half the amount of the old, this represents a 2-for-1 stock split. That is, the shareholders will receive two shares of the $.50 par stock in exchange for each share of the $1 par stock they own. The $1 par stock will be collected and destroyed by the issuing corporation. On November 1, 2018, the Nicklaus Corporation declares a $0.22 per share cash dividend on common stock and a $0.39 per share cash dividend on preferred stock. Payment is scheduled for December 1, 2018, to shareholders of record on November 15, 2018. On December 2, 2018, the Nicklaus Corporation declares a 1% stock dividend payable on December 28, 2018, to shareholders of record on December 14. At the date of declaration, the common stock was selling in the open market at $10 per share. The dividend will result in 76,000 (0.01 * 7,600,000) additional shares being issued to shareholders. Required: 1. Prepare journal entries to record the declaration and payment of these stock and cash dividends. 2. Prepare the December 31, 2018, shareholders' equity section of the balance sheet for the Nicklaus Corporation. (Assume net income for the fourth quarter was $2,950,000.) 3. Prepare a statement of shareholders' equity for Nicklaus Corporation for 2018. Complete this question by entering your answers in the tabs below. Required 1 Part A Required 2 Part A Required 1 tB Required 2 Part B Required 1 Part C Required 2 Part C Required 3 Part C Prepare journal entries to record these transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet No General Journal Credit Date June 30 Debit 3,480,000 Treasury stock Cash 3,480,000 2 July 31 675,000 Cash Treasury stock Paid-in capital-share repurchase 540,000 135,000 1 3 September 30 Cash Paid-in capital-share repurchase Treasury stock 450,000 90,000 540,000 ( Required 2 Part A Required 2 Part B > Journal entry worksheet Record the entry for the 2-for-1 stock split. Note: Enter debits before credits. Date General Journal Debit Credit October 01 Record entry Clear entry View general journal Journal entry worksheet