Some of the account balances of Sunland Limited at December $31,2022,$ are as follows:

$$7$ Preferred shares $(2,200$ shares authorized, $2,200$ shares issued and outstanding$)$ $$620,000$

Common shares $($unlimited authorized, $58,000$ shares issued and outstanding$)$ $$530,000$

Contributed surplus $$106,000$

Retained earnings $$785,000$

Accumulated other comprehensive income $$23,124$

The price of the company$$s common shares has been increasing steadily on the market; it was $$22$ on January $1,2023,$ and advanced to $$25$ by July $1$ and to $$28$ at the end of $2023.$ The preferred shares are not openly traded but were appraised at $$121$ per share during $2023.$ Sunland follows IFRS and had net income of $$162,000$ during $2023.$ For the purpose of this question, ignore any dividend entitlement to the preferred shareholders. The company declared a property dividend on April $1.$ Each common shareholder was to receive one share of Carla Vista Corp. for

every $10$ shares outstanding. Sunland had $8,200$ shares of Carla Vista $(2\%$ of the outstanding shares$),$ which it had purchased in

$2018$ for $$68,962.$ The shares are accounted for using the FV$-$OCI model. The accumulated other comprehensive income relates

only to these shares. The fair value of the Carla Vista shares was $$17$ per share on April $1.$ The property dividend was distributed

on April $21$ when the fair value of the Carla Vista shares was $$19\mathrm{.}00.$ The Carla Vista shares remained at a fair value of $$19\mathrm{.}00$

until year end.

Prepare the journal entries. $($List all debit entries before credit entries. Credit account titles are automatically indented when the amount

is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. Round

answers to $0$ decimal places, e$.$g$.5,275.$ Do not round intermediate calculations. Record entries in the order displayed in the problem

statement.$)$

$($To record fair value adjustment$)$

$($To record declaration of property dividend$)$

$($To reclassify holding gain$)$