Please complete requirement 3C

3 Part C On October 1, 2021, Nicklaus Corporation receives permission to replace its $1 par value common stock (5,000,000 shares authorized, 3,000,000 shares issued, and 2,900,000 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. 2 points On November 1, 2021, the Nicklaus Corporation declares a $0.13 per share cash dividend on common stock and a $0.30 per share cash dividend on preferred stock. Payment is scheduled for December 1, 2021, to shareholders of record on November 15, 2021. eBook On December 2, 2021, the Nicklaus Corporation declares a 1% 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 58,000 (0.01 x 5,800,000) additional shares being issued to shareholders. Print References 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 $2,450,000.) 3. Prepare a statement of shareholders' equity for Nicklaus Corporation for 2021. Complete this question by entering your answers in the tabs below. Required 1 Part A Required 2 Part A Required 1 Part B Required 2 Part B Required 1 Part C Required 2 Part C Required 3 Part C Prepare a statement of shareholders' equity for Nicklaus Corporation for 2021. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands.) NICKLAUS CORPORATION Statement of Shareholders' Equity For the Year Ended Dec 31, 2021 ($ in thousands) Additional Common Paid in Retained Total Preferred Treasury Shareholders' Chapter 18 Homework A Saved 3 Required 1 Part A Required 2 Part A Required 1 Part B Required 2 Part B Required 1 Part c Required 2 Part C Required 3 Part C 2 points Prepare a statement of shareholders' equity for Nicklaus Corporation for 2021. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands.) eBook NICKLAUS CORPORATION Statement of Shareholders' Equity For the Year Ended Dec. 31, 2021 ($ in thousands) Additional Common Paid-in Retained Stock Capital Earnings Total Print Preferred Stock Treasury Stock Shareholders' Equity References 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 0 0 Required 1 Part A Required 2 Part A Required 1 Part B Required 2 Part B Required 1 Part 0 Required 2 Part C Required 3 Part Prepare journal entries to record these transactions. (If no entry is required for a particular transaction, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet No Date General Journal Debit Credit 1 January 02 30,000,000 Cash Common stock 3,000,000 27,000,000 Paid-in capital - excess of par, common 2 January 02 30,000,000 Cash Preferred stock Paid-in capital - excess of par, preferred 5,000,000 25,000,000 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 $2,450,000.) 3. Prepare a statement of shareholders' equity for Nicklaus Corporation for 2021. Complete this question by entering your answers in the tabs below. Required 1 Part A Required 2 Part A Required 1 Part B Required 2 Part B Required 1 Part C Required 2 Part C Required 3 Part Prepare the shareholders' equity section of the Nicklaus balance sheet as of March 31, 2021. (Assume net income for the first quarter 2021 was $1,500,000.) es NICKLAUS CORPORATION Balance Sheet - Shareholders' Equity Section March 31, 2021 Shareholders' equity Common stock $ 3,000,000 Preferred stock 5,000,000 Paid-in capital - excess of par 67,000,000 Retained earnings 1,500,000 Total shareholders' equity $ 76,500,000 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 $2,450,000.) 3. Prepare a statement of shareholders' equity for Nicklaus Corporation for 2021. Complete this question by entering your answers in the tabs below. Required 1 Part A Required 2 Part A Required 1 Part B Required 2 Part B Required 1 Part C Required 2 Part 0 Required 3 Part C Prepare journal entries to record these transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet No Date General Journal Debit Credit 1 June 30 3,230,000 Treasury stock Cash 3,230,000 2 July 31 900,000 Cash Treasury stock Paid-in capital - share repurchase 765.000 135,000 3 September 30 Cash 675,000 90,000 Paid-in capital - share repurchase Treasury stock 765.000 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 $2,450,000.) 3. Prepare a statement of shareholders' equity for Nicklaus Corporation for 2021. Complete this question by entering your answers in the tabs below. 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 Part C Prepare the Nicklaus Corporation shareholders' equity section as it would appear in a balance sheet prepared at September 30, 2021. (Assume net income for the second and third quarter was $2,950,000.) NICKLAUS CORPORATION Balance Sheet - Shareholders' Equity Section September 30, 2021 Shareholders' equity Preferred stock $ 5,000,000 Common stock 3,000,000 Paid-in capital - excess of par 67,000,000 Paid-in capital - share repurchase 45,000 Retained earnings 4,450,000 $ 79,495,000 Less: Treasury stock 1,700,000 Total shareholders' equity $ 77,795,000 Required 1 Part A Required 2 Part A Required 1 Part B Required 2 Part B Required 1 Part C Required 2 Part C Required 3 Part C Prepare journal entries to record the declaration and payment of these stock and cash dividends. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet No Date General Journal Debit Credit 1 October 01 No journal entry required 2 November 01 Retained earnings 1,054,000 Cash dividends payable, common Cash dividends payable, preferred 754.000 300,000 3 November 15 No journal entry required 4 December 01 754,000 Cash dividends payable, common Cash dividends payable, preferred Cash 300,000 1,054,000 5 December 02 Retained earnings 870,000 29,000 Common stock dividends distributable Paid-in capital - excess of par, common 841,000 6 December 28 Common stock dividends distributable 29,000 Common stock 29,000 for the fourth quarter was $2,450,000.) 3. Prepare a statement of shareholders' equity for Nicklaus Corporation for 2021. Complete this question by entering your answers in the tabs below. Required 1 Part A Required 2 Part A Required 1 Part B Required 2 Part B Required 1 Part 0 Required 2 Part 0 Required 3 Part 0 Prepare the December 31, 2021, shareholders' equity section of the balance sheet for the Nicklaus Corporation. (Assume net income for the fourth quarter was $2,450,000.) NICKLAUS CORPORATION Balance Sheet - Shareholders' Equity Section December 31, 2021 Shareholders' equity Preferred stock $ 5,000,000 Common stock 3,029,000 Paid-in capital - excess of par 67,841,000 Paid-in capital - share repurchase 45,000 Retained earnings 4.976.000 $ 80,891,000 Less: Treasury stock 1,700,000 Total shareholders' equity $ 79, 191,000