Need to complete the excel spreadsheet. Please go through the question sheet carefully thank you! And complete in excel format. Thank you!

Background Information: Cipper Corporation is authorized to issue an unlimited number of no par value common shares. On January 18, 2018 you purchased 800 of these shares for $3 per share. On June 15, 2018 Cipper Corporation had 100 000 shares outstanding and the business has the following balances in its shareholders' equity accounts: Cipper Corporation Shareholders' Equity Common Shares $300 000 Retained Earnings 120 000 Total Equity $420 000 As you can see, the company has enough in its Retained Earnings account to declare a dividend. The board of directors has decided to either pay a $1 per share cash dividend or issue one share for every four shares each shareholder owns. The current market price is $4 per share. The dividend is to be paid on July 15, 2018 Value of Cash Dividend: 100 000 outstanding shares x $1 = $ 100 000 Value of Stock Dividend: 100 000 / 4 x 4 = 25 000 shares @ $4 each = $ 100 000 What effect does each scenario have on total shareholders' equity? Cipper Corporation Shareholders' Equity Before Dividend Cash Dividend Stock Dividend Common Shares $300 000 $300 000 $300 000 Retained Earnings 120 000 20 000 120 000 Total Equity $420 000 $320 000 $420 000 Book Value per share (Equity/# shares) $4.20 $3.20 $3.36 Required: 1. Show the journal entries for Cipper Corporation to record your purchase of 800 shares. 2. Show the Journal entries for the declaration, and payment of the dividends, under each situation listed above. 3. Calculate the value of your original 800 shares purchased, plus dividends, under each scenario. As a shareholder, what are the advantages and disadvantages of each type of dividend and which would you prefer? Explain why. D E E F G General Journal Page Credit Particulars Debit Cash Dividend. Stock Dividend 1 2 3 Date 4 #1 5 6 7 8 8 9 #2 10 11 12 13 14 15 16 17 18 19 #2 20 21 22 23 24 25 26 27 28 29 #3 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 U5A3 +