The balance sheet of Consolidated Paper, Inc

The balance sheet of Consolidated Paper, Inc., included the following shareholders' equity accounts at December 31, 2020: 
Paid-in capital: Preferred stock, 9.0%, 86,000 shares at $1 par $ 86,000 Common stock, 363,600 shares at $1 par 363,600 Paid-in capital—excess of par, preferred 1,485,000 Paid-in capital—excess of par, common 2,535,000 Retained earnings 8,645,000 Treasury stock, at cost; 3,600 common shares (43,200) 
Total shareholders' equity $13,071,400 
During 2021, 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 230,000 shares of Leasco International common stock that Consolidated Paper had purchased in January as an investment (book value. $674,000). The investment spares had a fair value of $3 per share and were distributed March 31 to shareholders of record 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 25% stock dividend. The market value of the $1 par common stock was $12 per share_ c_ On July 5, a 2% common stock dividend was declared and distributed_ The market value of the common stock was $12 per share. d. On December 1, the board of directors declared the 9 0% cash dividend on the 86,000 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 40 per share on its common shares, payable on December 28 to shareholders of record December 20 
2 Prepare the shareholders' equity section of the balance sheet for Consolidated Paper, Inc_ at December 31. 2021. Net income for the year was $760,000_