• 4,000,000 shares of no-par common stock were authorized; 1,750,000 shares were issued on January 1, 2016, at $45 per share.
• 1,800,000 shares of $100 par value, 7.5% cumulative, preferred stock were authorized, and 840,000 shares were issued on January 1, 2016, at $105 per share.
• Net income for the years ended December 31, 2016, 2017, and 2018, was $38,000,000, $46,000,000, and $57,000,000, respectively.
• No dividends were declared or paid during 2016 or 2017. However, on December 17, 2018, the board of directors of Permabilt Corp. declared dividends of $64,000,000, payable on February 9, 2019, to holders of record as of January 4, 2019.

Requlred: 1. Use the hnrizorltal mudII forthe iguanne of common 519d: and preferred stock on January 1. 201 6. (ll ee amount wld1 + for Increases and amount wl111 for decreases.) 2. Use the hnrizorltal mudII forthe declaration ofdividends on December 17, 201 3. [Use amount wl'lh + for Increases and amount with for decreases.) _E_I__EE_I 3. Use the horizontal mddII forthe payment of dividends on Fehmary 9. 2019. (Use amount wlm + for Increases and amount wl'lh for decreases.) I_e__==_ 1. The issuance of common stock and preferred stock en January 1. 201B. 2. The declaration of dividends on December 1?, 2013. 3. The payment of dividends on Feb-wary 9, 2D19. View transaction list Journal entry worksheet Record stuck issuancea. Note: Enter debits before credits. January [11, 2016 Record entry Clear entry 1u'ietvirgeneraljeurnr-II value: ZED paints b. 01' lhe total amount of dividends declared during 2D1E, how much will be received by preferred shareholders