P13-5B Tandy Corporation, which operates Radio Shack stores, included the following stockholders' equity on its year-end balance sheet at December 31, 19X8, with all dollar amounts, except par value per share, in millions: Stockholders' Equity Preferred stock, 6% cumulative Common stock-par value $1 per share; 250.000.000 shares authorized, 139,000,000 shares issued Paid-in capital in excess of par-common. Retained earnings... ($ Millions) $ 100 139 110 1,693 $2,042 7 Required 1. Identify the different issues of stock Tandy has outstanding. 2. Give two summary entries to record issuance of all the Tandy stock. Assume that all the stock was issued for cash. Explanations are not required. 3. Assume that preferred dividends are in arrears for 19X7 and 19X8. Record the declara- tion of a $50 million cash dividend on December 30, 19X9. Use separate Dividends Payable accounts for Preferred and Common. An explanation is not required.