NEED HELP ON REQUIRED 2 part C & Required three part C

can't figure out paid in capital excess of par or retained earnings

Part C On October 1, 2021, 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 $0.50 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 $0.50 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 issuing corporation. On November 1, 2021, the Nicklaus Corporation declares a $0.05 per share cash dividend on common stock and a $0.21 per share cash dividend on preferred stock. Payment is scheduled for December 1, 2021, to shareholders of record on November 15, 2021. On December 2, 2021, the Nicklaus Corporation declares a 3% stock dividend payable on December 28, 2021, to shareholders of record on December 14. At the date of declaration, the common stock was selling in the open market at $15 per share. The dividend will result in 114,000 (0.03 x 3,800,000) additional shares being issued to shareholders. Required: 1. Prepare journal entries to record the declaration and payment of these stock and cash dividends. 2. Prepare the December 31, 2021, shareholders' equity section of the balance sheet for the Nicklaus Corporation. (Assume net income for the fourth quarter was $2,050,000.) 3. Prepare a statement of shareholders' equity for Nicklaus Corporation for 2021. X Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Part A Required 2 Required 1 Part B Required 2 Required 1 Part C Required 2 Required 3 Part C Part A Part B Part C

Part On October 1, 2021. Nicklaus Corporation receives permission to replace its $1 par value common stock (4,000,000 shares authorized, 2,000,000 shares issues and 1,900,000 shares outstanding) with a new common stock issue having a $0.50 par value. Since the new por 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 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 Issuing corporation On November 1, 2021, the Nicklaus Corporation declares a $0.05 per share cash dividend on common stock and a $0.21 per share cash dividend on preferred stock Payment is scheduled for December 1, 2021, to shareholders of record on November 15, 2021 On December 2, 2021, the Nicklaus Corporation declares a 3 stock dividend payable on December 28, 2021, to shareholders of record on December 14. At the date of decioration, the common stock was selling in the open market or $15 per share. The dividend will result in 114.000 (0.033,800.000) additional shares being issued to shareholders Required: 1. Prepare journal entries to record the declaration and payment of these stock and cash dividends 2. Prepare the December 31, 2021 shareholders' equity section of the balance sheet for the Nicklaus Corporation (Assume net income for the fourth quarter was $2.050,000) 3. Prepare a statement of shareholders equity for Nicklaus Corporation for 2021 Required 1 Part A Required 2 Part A Required 1 Part B Required 2 Part B Required 1 Part Required 2 Part C Required 3 Parte Prepare the December 31, 2021, shareholders' equity section of the balance sheet for the Nicklaus Corporation. (Assume net income for the fourth quarter was $2,050,000.) NICKLAUS CORPORATION Balance Sheet - Shareholders' Equity Section December 31, 2021 Shareholders' equity Common stock $ 2,057,000 Paid-in capital - excess of par 1653,000 Paid-in capital - share repurchase 50,000 Preferred stock 5,000,000 Retained earnings 3.650,000 $ 12,410,000 Less: Treasury stock 1.700,000) Total shareholders' equity $ 10.710.000 NICKLAUS CORPORATION Statement of Shareholders' Equity For the Year Ended Dec 31, 2021 ($ in thousands) Additional Common Paid in Retained Stock Capital Earings Preferred Treasury Stock Total Shareholders Equity Stock 5,000 0 25,000 30,000 0 0 0 0 30,000 0 0 0 0 0 0 0 0 0 X 0 0 0 Jan. 2. 2021 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, 2021 0 0 0 0 X 0 0 X 0 0 0 % 0 0 X >> >> 0 0 0 0 0 X IS 0 % 0 o lo X X 0 0 5,000 0 0 % 0 25.000 0 60.000