The balance sheet of Consolidated Paper, Incorporated, included the following shareholders' equity accounts at December 31,2023 : During 2024, 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 propeity divitend of 240,000 shares of Leaseo international common steck that Consolidated Paper had purchased in January as an investment book value: $700.000 ). The investment shares had a far value of $3 per share and were diflibuted Varet 31 to sharelio dets of fecord March 15 b. On May 3, a 5 for -4 stock 59 it was declared and distributec. The stock split was effected in the form of a 25% stock dividend. The market value of the $1 par commen steck was $11 per share c. n July 5. a 2\% common stock dividend was declared and distr buted. 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 $0.50 per share on its common shares. payable on December 28 to shareholders of record December 20 . 2. Prepare the sharehodders' equily section of the balance sheet fer Consolidated Paper, Incorparated. at December 31. 2024. Net income for the year was $810000