The balance sheet of Consolidated Paper Inc included the following shareholders' equity accounts at December 31, 2015 Paid-in capital Preferred stock, 9.0%, 81,000 shares at $1 par 81.000 Common stock, 313,100 shares at $1 par 313,100 Paid-n capital --excess of par, preferred 1,435.000 Paid-in capital-excess of par, common 2,485.000 Retained earnings 8,145.000 Treasury stock, at cost 3,100 common shares (34,100) Total shareholders' equity $12,425,000 During 2016. several events and transactions affected the retained earnings of Consolidated Paper. Required: Prepare the appropriate entries for these required for a transaction/event. select "No entry is entry required" in the first account field.) a common board of directors declared a property dividend 2 shares of Leasco International stock that Paper had in of as an investment (book value $604,000). The investment shares had a fair of January and were distributed March 31 to shareholders of value $3 per share 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 c The market value of the $1 par common stock was $11 per share On July 5 a 2% common stock dividend was declared and distributed The market value of the common stock was $11 per share. d board of directors declared the 9 0% cash dividend on the 81 ooo preferred shares payable on December 28 to shareholders of record December 20 On December 1 the board of directors declared a cash dividend of $0.50 per share on its common shares, payable on December 28 to shareholders of record 20 view general journal