this is all one question

imy work Part A In late 2017, the Nicklaus Corporation was formed. The corporate charter authorizes the issuance of 4,000,000 shares of common stock carrying a $1 par value, and 1,000,000 shares of $5 par value, noncumulative, nonparticipating preferred stock. On January 2, 2018,2,000,000 shares of the common stock are issued in exchange for cash at an average price of $10 per share. Also on January 2, all 1,000,000 shares of preferred stock are issued at $20 per share. Required: 1. Prepare journal entries to record these transactions. 2. Prepare the shareholders' equity section of the Nicklaus balance sheet as of March 31, 2018. (Assume net income for the first quarter 2018 was $1,150,000.) ler 2 Part B During 2018, the Nicklaus Corporation participated in three treasury stock transactions er 3 a. On June 30, 2018, the corporation reacquires 120,000 shares for the treasury at a price of $12 per share. b. On July 31, 2018, 10,000 treasury shares are reissued at $15 per share. c On September 30, 2018, 10,000 treasury shares are reissued at $10 per share. Required: 1. Prepare journal entries to record these transactions. 2. Prepare the Nicklaus Corporation shareholders' equity section as it would appear in a balance sheet prepared at September 30, 2018. (Assume net income for the second and third quarter was $2,600,000) Resus Part C On October 1, 2018, Nicklaus Corporation receives permission to replace its $1 par value common stock (4.000,000 shares authorized, 2nn0 nnnchares leesart and 1 ann nnn sharec nitetandinnl with a now cem Check my work Required: 1. Prepare Journal entries to record these transactions 2. Prepare the Nicklaus Corporation shareholders' equity section as it would appear in a balance sheet prepared at September 30, 2018. (Assume net income for the second and third quarter was $2,600,000.) Part C On October 1, 2018, Nicklaus Corporation receives permission to replace its $1 par value common stock (4,000,000 shares authorized, 2,000,000 shares issued, and 1,900,000 shares outstanding) with a new common stock issue having a $.50 par value. Since the new par value is one-half the amount of the old, this represents a 2-for-1 stock split. That is, the shareholders will receive two shares of the $50 par stock in exchange for each share of the $1 par stock they own. The $1 par stock will be collected and destroyed by the issulng corporation. er 2 On November 1, 2018, the Nicklaus Corporation declares a $o.06 per share cash dividend on common stock and a $0.22 per share cash dividend on preferred stock. Payment is scheduled for December 1, 2018, to shareholders of record on November 15, 2018. Test Qua er 3 On December 2, 2018, the Nicklaus Corporation declares a 2 % stock dividend payable on December 28, 2018, to shareholders of record on December 14. At the date of declaration, the common stock was selling in the open market at $10 per share. The dividend will result in 76.000 (0.02 3,800,000) additional shares being issued to shareholders Name Required: 1. Prepare journal entries to record the declaration and payment of these stock and cash dividends 2. Prepare the December 31, 2018, shareholders' equity section of the baiance sheet for the Nicklaus Corporation. (Assume net income for the fourth quarter was $2.100,000) 3. Prepare a statement of shareholders' equity for Nicklaus Corporation for 2018 Resume 1 Complete this question by entering your answers in the tabs below. Check my www.. View transaction list View journal entry worksheet General Journal Credit Debit No Date No jounal entry required October 01 1 Retained earnings November 01 Cash dividends payable, common Cash dividends payable, preferred No journal entry required 3 November 15 December 01 Cash dividends payable, common 4 Cash dividends payable, preferred Cash Retained earnings 5 December 02 Common stock dividends distributable Paid-in capital-excess of par, common 6 December 28 Common stock dividends distributable lCommon shnrk Check my w View journal entry worksheet View transaction list BEBERER Date General Journal Debit Credit No No journal entry required October 01 Retained earnings 2 November 01 Cash dividends payable, common Cash dividends payable, preferred No journal entry required 3 November 15 4 December 01 Cash dividends payable, common Cash dividends payable, preferred Cash Retained earnings December 02 Common stock dividends distributable Paid-in capital-excess of par, common 6 December 28 Common stock dividends distributable Common stock Check my Required 1 Part A Required 1 Part C Required 2 Required 1 Part B Required 2 Part B Required 2 Part C Required 3 Part C Part A Prepare the December 31, 2018, shareholders' equity section of the balance sheet for the Nicklaus Corporation. (Assume net income for the fourth quarter was $2,100,000.) NICKLAUS CORPORATION Balance Sheet-Shareholders' Equity Section December 31, 2018 Shareholders' equity Preferred stock Common stock Paid-in capital-excess of par Paid-in capital-share repurchase Retained earnings 0 Less: Treasury stock Total shareholders' equity Check my w Prepare a statement of shareholders' equity for Nicklaus Corporation for 2018. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands.) NICKLAUS CORPORATION Statement of Shareholders' Equity for the Year Ended Dec. 31, 2018 ($ in 000s) Additional Total Shareholders Preferred Common Paid-in Retained Treasury Stock Stock Capital Earnings Stock Equity Jan. 2, 2018 Issuance of preferred stock Issuance of common stock Purchase of treasury stock Sale of treasury stock Net income Common cash dividends Preferred cash dividends Stock dividend December 31, 2018 0 C 0 0