The balance sheet of Consolidated Paper, Inc., included the following shareholders' equity accounts at December 31, 2017 Paid-in capital: Preferred stock. 8.0%, 97,000 shares at $1 par Conmon stock. 474.700 shares at $1 par Paid-in capital-excess of par, preferred Paid-in capital excess of par, comon $ 97,000 474, 700 1. 585, 000 2. 635, 000 9,645,000 47,000) $14. 389, 700 Retained earnings Treasury stock, at cost:4.700 common shares Total shareholders equity During 2018, 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 285,000 shares of Leasco International common stock that Consolidated Paper had purchased in January as an investment (book value: $828,000). The investment shares had a fair value of $3 ner share and were distrihuted March 31 to shareholders of rerord March 15