1. On September 5, 2015, Olive Oils Corp. issued 4,000 shares of $20 par preferred stock and 25,000 shares of $5 par common stock at par for cash. Prepare the journal entry to record the stock issue. 2. Tortoise Cleaning Corp. issued 15,000 shares of $3 par preferred stock, 20,000 of $2 par preferred stock, and 10,000 shares of $5 par common stock at par for cash on March 20, 2015. Prepare the journal entry to record the stock issue. 3. Upon formation on May 12, 2015, Big Zero issued 3,000 shares each of $10 par preferred stock and $8 par common stock at par. Prepare the journal entry to record the stock issue. 4. On March 16, 2015, a corporation issued 3,000 shares of no-par common stock for $3 per share and 4,000 shares of no-par preferred stock for $5 per share. Prepare the journal entry to record the transaction. 5. Ole Corp. issued 5,000 shares of no-par common stock for $10 per share on April 1, 2015. The common stock had a stated value of $5 per share. On June 1, 2015, the corporation issued 2,000 shares of the same common stock for $7 per share. Prepare the journal entries to record the stock issues. 6. National Furniture Company has 25,000 shares of cumulative preferred 2% stock, $75 par and 200,000 shares of $10 par common stock. The following amounts were distributed as dividends: Year 1 $25,000 Year 2 88,000 Year 3 95,500 Determine the dividends per share for preferred and common stock for each year. 7. Zero Calories Company has 16,000 shares of cumulative preferred 1% stock, $40 par and 80,000 shares of $150 par common stock. The following amounts were distributed as dividends: Year 1 $ 21,600 Year 2 4,000 Year 3 100,800 Determine the dividends per share for preferred and common stock for each year