The balance sheet of Consolidated Paper, Inc., included the following shareholders equity accounts at December 31, 2012: Paid-in capital: Preferred stock, 8.8%, 90,000 shares at $1 par $ 90,000 Common stock, 364,000 shares at $1 par 364,000 Paid-in capitalexcess of par, preferred 1,437,000 Paid-in capitalexcess of par, common 2,574,000 Retained earnings 9,735,000 Treasury stock, at cost; 4,000 common shares (44,000 ) Total shareholders' equity $ 14,156,000 During 2013, several events and transactions affected the retained earnings of Consolidated Paper. Prepare the appropriate entries for these events. a.On March 3 the board of directors declared a property dividend of 240,000 shares of Leasco International common stock that Consolidated Paper had purchased in January as an investment (book value: $700,000). 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 $11 per share. c. On July 5 a 2% common stock dividend was declared and distributed. The market value of the common stock was $11 per share. d. On December 1 the board of directors declared the 8.8% cash dividend on the 90,000 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 $.50 per share on its common shares, payable on December 28 to shareholders of record December 20. 1.(a)Record gain/loss on Leasco International Stock. 2.(a)Record declaration of property dividend of Leasco International stock. 3. (a)Record entry on date of record for property dividend of Leasco International stock. 4.(a)Record entry on date of payment for property dividend of Leasco International stock. 5.(b)Record entry for stock split effected in form of stock dividend. 6.(c)Record entry for declaration and distribution of common stock dividend. 7.(d)Record entry for cash dividend on preferred stock on date of declaration. 8.(d)Record entry for cash dividend on preferred stock on date of record. 9.(d) Record entry for cash dividend on preferred stock on date of payment. 10(e) Record entry for cash dividend on common stock on date of declaration. 11.(e) Record entry for cash dividend on common stock on date of record. 12(e) Record entry for cash dividend on common stock on date of payment