15 (8 Points): Company J issued 50,000 shares of $10 Par Common Stock for $12 per share and 25,000 shares of 8% Preferred Stock, with a Par Value of $20 for $30 each. a) Journalize the Entry for the issuance of the shares. You can omit the description. Common Stock: Preferred Stock: b) If the Company pays a cash dividend of $100,000 in year 1 (so there are not any dividends in arrears, how much will each shareholder receive? Preferred Stock: Common Stock