3 Jan 1. Prepare journal entries for the issuance of $10,000,000, 11%, 10 year semmian nual bonds issued on 1 /1 of this year at an effective rate of 12%. Also prepare entries for payment of interest for the first two payments on 7/1 and 1/1 XYZ has 300,000 shares of $100 par. 3% cumulative preferred stock and 3,000,000 shares of $1 par common stock There are 400,000 shares of treasury stock (common) Earnings before interest and tax is $6,200,000 Interest expense was $600,000 and the tax rate is 20% l he company did not pay a dividend last year and wishes to pay a total of $2,000,000 in dividends How much will each share of preferred and common receive? Retained earnings at the beginning of the year are $90,000,000 What will be the final amount in retained earnings at the end of the year? What are the earnings per common share