I just need the answer for part b$!$ Some of the account balances of Sunland Limited at December $31,2022,$ are as follows:

The price of the company's common shares has been increasing steadily on the market; it was $$21$ on January $1,2023,$ and advanced

to $$24$ by July $1$ and to $$27$ at the end of $2023.$ The preferred shares are not openly traded but were appraised at $$120$ per share

during $2023.$ Sunland follows IFRS and had net income of $$151,000$ during $2023.$ For the purpose of this question, ignore any dividend

entitlement to the preferred shareholders.

$($a$1)$

V Your answer is correct.

The company declared a property dividend on April $1.$ Each common shareholder was to receive one share of Carla Vista Corp. for

every $10$ shares outstanding. Sunland had $8,000$ shares of Carla Vista $(2\%$ of the outstanding shares$),$ which it had purchased in

$2018$ for $$68,400.$ The shares are accounted for using the FV$-$OCI model. The accumulated other comprehensive income relates

only to these shares. The fair value of the Carla Vista shares was $$16$ per share on April $1.$ The property dividend was distributed

on April $21$ when the fair value of the Carla Vista shares was $$18\mathrm{.}50.$ The Carla Vista shares remained at a fair value of $$18\mathrm{.}50$

until year end.

Prepare the journal entries. $($List all debit entries before credit entries. Credit account titles are automatically indented when the amount

is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter O for the amounts. Round

answers to $0$ decimal places, e$.$g$.5,275.$ Do not round intermediate calculations. Record entries in the order displayed in the problem

statement.$)$

FV$-$OCI Investments

Unrealized Gain or Loss $-$ OCI

$($To record fair value adjustment$)($To record declaration of property dividend$)$

Unrealized Gain or Loss $-$ OCI

Gain on Disposal of Investments FV$-$OCI

$($To reclassify holding gain$)$

eTextbook and Media

Assistance Used

List of Accounts

Assistance Used

Attempts: $1$ of $2$ used

V Your answer is correct.

On July $1,$ the company declared a $5\%$ stock dividend at the fair value of the shares to the remaining common shareholders. The

stock dividend was distributed July $22.$

Prepare the journal entries. $($List all debit entries before credit entries. Credit account titles are automatically indented when the amount

is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. Record

entries in the order displayed in the problem statement.$)$ eTextbook and Media

Assistance Used

List of Accounts

Assistance Used

Attempts: $1$ of $2$ used

$($a$3)$

Your answer is correct.

A shareholder, in an effort to persuade Sunland to expand into her city, donated to the company a plot of land with an appraised

value of $$42,000.$

Prepare the journal entry. $($List debit entry before credit entry. Credit account titles are automatically indented when the amount is

entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter O for the amounts.$)$

Account Titles and Explanation

Contributed Surplus

eTextbook and Media

List of Accounts

Attempts: $1$ of $2$ used

$($b$)$

Prepare the shareholders' equity section of Sunland's SFP at December $31,2023.($Round answers to $0$ decimal places, e$.$g$.5,275.$ Do Your answer is partially correct.

Prepare the shareholders' equity section of Sunland's SFP at December $31,2023.($Round answers to $0$ decimal places, e$.$g$.5,275.$ Do

not round intermediate calculations.$)$

SUNLAND LIMITED

Shareholders' Equity

December $31,2023$

Common Shares

Preferred Shares

Contributed Surplus

Retained Earnings

Accumulated OCl