1. Garza Co. had the following transactions during the current period. March 2. Issued 10,000 shares of S1 par value common stock to attorneys in payment of a bill for $30,000 for services provided in helping the company to incorporate June 2. Issued 40,000 shares of $2 par value common stock for cash of $375,000 July 11. Issued 1,000 shares of $100 par value preferred stock for cash at $120 per share. Nov 28 Purchased 4,000 shares of treasury stock for $80,000 Dec. 21 Sold 1,000 shares of treasury stock for $30,000 Journalize the transactions 2a. Arnez Corporation was organized on January 1, 2015. During its first year, the corporation issued 4,000 shares of $50 par value preferred stock and 100,000 shares of $20 par value common stock. Each year the company declared the following cash dividends: 2017 $6000. 2016. S 12,000 and 2015. $100,000 (a) Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 8% and not cumulative. (b) Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 8% and cumulative. (c) Journalize the declaration of the cash dividend at December 31, 2017 under part (b) 2b. On October 1, Chile Corporation's stakeholder's equity is as follows. Common stock, $5 par value Paid-in capital in excess of par value $25,000 Retained earnings $200,000 $175,000 $400,000 On October 1, Chile declares and distributes a 10% stock dividend when the market value stock is $20 per share