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29 Listed below are the transactions that affected the shareholders' equity of Branch-Rickie Corporation during the period 2021-2023. At December 31, 2020, the corporation's accounts included: ints Common stock, 119 million shares at $1 par Paid-in capital-excess of par Retained earnings ($ in thousands ) $119,000 714,000 980,000 a. November 1, 2021, the board of directors declared a cash dividend of $0.70 per share on its common shares, payable to shareholders of record November 15, to be paid December 1. b. On March 1, 2022, the board of directors declared a property dividend consisting of corporate bonds of Warner Corporation that Branch-Rickie was holding as an investment. The bonds had a fair value of $3.5 million, but were purchased two years previously for $3.1 million. Because they were intended to be held to maturity, the bonds had not been previously written up. The property dividend was payable to shareholders of record March 13, to be distributed April 5. c. On July 12, 2022, the corporation declared and distributed a 4% common stock dividend (when the market value of the common stock was $18 per share). Cash was paid in lieu of fractional shares representing 760,000 equivalent whole shares. d. On November 1, 2022, the board of directors declared a cash dividend of $0.70 per share on its common shares, payable to shareholders of record November 15, to be paid December 1. e. On January 15, 2023, the board of directors declared and distributed a 3-for-2 stock split effected in the form of a 50% stock dividend when the market value of the common stock was $19 per share. f. On November 1, 2023, the board of directors declared a cash dividend of $0.55 per share on its common shares, payable to shareholders of record November 15, to be paid December 1. Required: 1. Prepare the journal entries that Branch-Rickie recorded during the three-year period for these transactions. 2. Prepare comparative statements of shareholders' equity for Branch-Rickie for the three-year period ($ in 000s). Net income was $425 million, $490 million, and $550 million for 2021, 2022, and 2023, respectively. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. 29 Required 1 Required 2 Prepare the journal entries that Branch-Rickie recorded during the three-year period for these transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars.) Dints No Debit Credit 1 Date General Journal November 01, 20. Retained earnings Cash dividends payable 83,300,000 83,300,000 2 November 15, 20. No journal entry required 3 December 01, 20. Cash dividends payable Cash olol 83,300,000 83,300,000 4 400,000 March 01, 2022 Investment in debt securities Gain on investments bol 400,000 5 3,500,000 March 01, 2022 Retained earnings Property dividends payable 3,500,000 6 March 13, 2022 No journal entry required > 7 April 05, 2022 3,500,000 Property dividends payable Investment in debt securities sol 3,500,000 8 July 12, 2022 85,680,000 Retained earnings Common stock Paid-in capital - excess of par Cash 4,000,000 68,000,000 13,680,000 9 86,100,000 November 01, 20. Retained earnings Cash dividends payable 86,100,000 | 10 November 15, 20. No journal entry required 11 86,100,000 December 01, 20. Cash dividends payable Cash 86,100,000 12 X 61,500,000 January 15, 2023 Cash dividends payable Common stock 61,500,000 13 101,475,000 November 01, 20. Retained earnings Cash dividends payable OO 101,475,000 14 November 15, 20. No journal entry required > 15 101,475,000 December 01, 20 Cash dividends payable Cash 101,475,000