Prepore journal entries to record these transactions.

Prepare the shoreholders' equity section of the Nicklous bolance sheet os of Morch $31,2024.($Assume net income for the first quorter $2024$ wos $$1,200,000)$

Part B

During $2024,$ the Nicklous Corporation participated in three treosury stock transactions:

a$.$ On June $30,2024,$ the corporation reacquires $130,000$ shares for the treasury at a price of $$12$ per share.

b$.$ On July $31,2024,15,000$ treosury shores are reissued at $$15$ per shore.

c$.$ On September $30,2024,15,000$ treasury shores ore reissued at $$10$ per share.

Required:

Prepare journal entries to record these transoctions.

$2$ Prepore the Nicklaus Corporation shareholders' equity section as it would appeor in a bolance sheet prepared ot September $30.2024.($Assume net income for the second and third quorter wos $$2,650,000.)$

PartC

On October $1,2024,$ Nicklous Corporation receives permission to replace its $$1$ par volue common stock shares outhorized, $2000,000$ shores issued, and $1,900,000$ shares outstonding$)$ with a new common stock issue hoving a $$0\mathrm{.}50$ par value. Since the new por volue is one$-$holf the amount of the old, this represents $0-$for$-1$ stock split. That is$,$ the shareholders will receive two shores of the $$0\mathrm{.}50$ par stock in exchange for each share of the $$1$ por stock they own. The $$1$ par stock will be collected and destroyed by the issuing corporation.$)$

On November $1,2024,$ the Nicklous Corporation decleres $0$$$0,07$ per share cash dividend on common stock and $80\mathrm{.}23$ per share cosh dividend on preferred stock. Poyment is scheduled for December $1,2024,$ to shereholders of record on November $15,2024.$

On December $2,2024,$ the Nicklous Corporotion declares o $1\%$ stock dividend poyoble on December $28,2024,$ to shoreholders of record on December $14.$ At the date of declorotion, the common stock wos selling in the open market at $$10$ per share. The dividend will result in $38,000(0\mathrm{.}013,800,000)$ additional shares being issued to shareholders.

Required:

Prepare journal entries to record the declaration and poyment of these stock and cash dividends.

$2$ Prepore the December $31,2024,$ shoreholders' equity section of the bolance sheet for the Nicklous Corporation. $($Assume net incame for the fourth querter was $$2150,000.)$

Prepore o statement of shoreholders' equity for Nicklaus Corporotion for $2024.$

Complete this question by entering your answers in the tabs below.

$\backslash$table$[[\backslash$table$[[$Required I$],[$mart A$]],\backslash$table$[[$Required $2],[$Port A$]],\backslash$table$[[$Required $1],[$Part B$]],\backslash$table$[[$Required $2],[$Port $B$