2. On Decem ber 15, GreenTea Company declared an annual cash dividend of $70,000. GreenTea then paid the dividends on January 4. Journalize the declaration of cash dividends on December 15. a. b. Journalize the payment of cash dividends on January 4 3. Eastern Communications stockholders' equity section of the balance sheet is below. Eastern Communications Stockholders' Equity Paid-in Capital: Preferred stock, 4%, $10 par, 100,000 shares authorized 24,000 shares issued and outstanding Common stock, $1 par, 500,000 shares authorized 380,000 shares issued and outstanding $240,000 190,000 Paid-in capital in excess of par-common Total paid-in capital Retained earnings 640,000 1,070,000 160,000 Total stockholders' equity $1,230,000 Is Eastern Communications preferred stock cumulative or noncumulative? a. b. Compute the amount of dividends to preferred and common stockholders for each year Cash Dvd. Declared PS. Year & Paid 2017 7,600 2018 48,000 2019 50,000