The balance sheet of Consolidated Paper, Inc., included the following shareholders equity accounts at December 31, 2015:

Paid-in capital:
Preferred stock, 7.0%, 91,000 shares at $1 par	$	91,000
Common stock, 414,100 shares at $1 par		414,100
Paid-in capitalexcess of par, preferred		1,525,000
Paid-in capitalexcess of par, common		2,575,000
Retained earnings		9,045,000
Treasury stock, at cost; 4,100 common shares		(41,000	)
Total shareholders' equity	$	13,609,100

During 2016, several events and transactions affected the retained earnings of Consolidated Paper.

Required:

1.	Prepare the appropriate entries for these events. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

a.	On March 3 the board of directors declared a property dividend of 255,000 shares of Leasco International common stock that Consolidated Paper had purchased in January as an investment (book value: $744,000). The investment shares had a fair value of $3 per share and were distributed March 31 to shareholders of record March 15.
b.	On May 3 a 5-for-4 stock split was declared and distributed. The stock split was effected in the form of a 25% stock dividend. The market value of the $1 par common stock was $10 per share.
c.	On July 5 a 1% common stock dividend was declared and distributed. The market value of the common stock was $10 per share.
d.	On December 1 the board of directors declared the 7.0% cash dividend on the 91,000 preferred shares, payable on December 28 to shareholders of record December 20.
e.	On December 1 the board of directors declared a cash dividend of $0.40 per share on its common shares, payable on December 28 to shareholders of record December 20.