The balance sheet of Consolidated Paper, Inc., included the following shareholders' equity accounts at December 31, 2020 Paid-in capital: Preferred stock, 7.5%, 92,000 shares at $1 par Common stock, 424,200 shares at 51 par Paid-in capital-excess of par, preferred Paid in capital-excess of par, common Retained earnings Treasury stock, at cost; 4,200 common shares Total shareholders equity 92,000 424,200 1,535,000 2,585,00 9.145.000 (46200 $13,735,000 During 2021. several events and transactions affected the retained earnings of Consolidated Paper Required: 1. Prepare the appropriate entries for these events a. On March 3, the board of directors declared a property dividend of 260,000 shares of Leasco International common stock that Consolidated Paper had purchased in January as an investment (book value $498,000) The investment shares had a fair value of $2 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 S1 par common stock was $11 per share c. On July 5, a 1% common stock dividend was declared and distributed. The market value of the common stock was 511 per share. d. On December 1, the board of directors declared the 75% cash dividend on the 92.000 preferred Shares, payable on December 28 e On December 1, the board of directors declared a cash dividend of $0.60 per share on its common shares, payable on December 28 to shareholders of record December 20. 2. Prepare the shareholders' equity section of the balance sheet for Consolidated Paper, Inc, at December 31, 2021 Net Income for the year was $820,000 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the appropriate entries for these events. (If no entry is required for a transaction/event, select "Na journal entry required" in the first account field.) View transaction list View journal entry worksheet No Debit Credit Date March 03 1 General Journal Investment in equity securities Gain on investments 22.000 22.000 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the shareholders' equity section of the balance sheet for Consolidated Paper, Inc. at December 31, 2021. Net income for the year was $820,000 (Negative amounts should be indicated by a minus sign) CONSOLIDATED PAPER, INC. Shareholders' Equity section) December 31, 2021 Paid in capital Preferred stock 92.000 Common stock Paid-in capital - excess of par preferred 1.535.000 Paid-in capital - excess of par, common Retained earnings Treasury stock Total shareholders' equity 1.627.000 $