4. Kilmister Corporation owns 5,000 shares of Lemmy Company preferred stock as an investment. This investment cost $5,200,000 and is now worth $5,600,000. Kilmister has a balance in its common stock account of $3,600,000 ( 360,000 shares with a par value of $10 per share). Kilmister is currently holding 10,000 shares of common in treasury stock. Kilmister declares a property dividend whereby stockholders will receive 1 preferred share (of Lemmy Company) for each 100 shares of stock held. 1. How many shares of Lemmy preferred stock will be issued in this transaction? 2. Prepare the journal entries necessary at the date of declaration. 3. Prepare the journal entry necessary when the preferred shares are distributed to the stockholders