1. Identify the different classes of stock that Thoughtful Comfort Specialists has outstanding. 2. What is the par value per share of Thoughtful Comfort Specialists' preferred stock? 3. Make two summary journal entries to record issuance of all the Thoughtful Comfort Specialists' stock for cash. Explanations are not required. 4. No preferred dividends are in arrears. Journalize the declaration of a $100,000 dividend at June 30, 2018, and the payment of the dividend on July 20, 2018. Use separate Dividends Payable accounts for preferred and common stock. An explanation is not required. 1,000,000 Stockholders' Equity Paid-In Capital: Preferred Stock8%, ? Par Value; 675,000 shares authorized, 250,000 shares issued and outstanding $ Common Stock-$1 Par Value; 5,000,000 shares authorized, 1,300,000 shares issued and outstanding Paid-In Capital in Excess of ParCommon Total Paid-In Capital Retained Earnings 1,300,000 2,700,000 5,000,000 12,100,000 17,100,000 $ Total Stockholders' Equity Thoughtful Comfort Specialists, Inc. reported the following stockholders' equity on its balance sheet at June 30, 2018: (Click the icon to view the partial balance sheet.) Read the requirements. Requirement 1. Identify the different classes of stock that Thoughtful Comfort Specialists has outstanding. Thoughtful has preferred stock and common stock outstanding. Requirement 2. What is the par value per share of Thoughtful Comfort Specialists' preferred stock? The par value of preferred stock is $ 4 per share. Requirement 3. Make two summary journal entries to record issuance of all the Thoughtful Comfort Specialists' stock for cash. Explanations are not required. (Record debits first, then credits. Exclude explanations from any journal entries.) Begin by recording the issuance of the preferred stock. Date Accounts Debit Credit Cash Common Stock-$1 Par Value Cash Common Stock-$1 Par Value Dividends Payable-Common