9. Farmer Corp. owned 20,000 shares of Eaton Corp. purchased in 2020 for 240,000. On December 15, 2022, Farmer declared a property dividend of all of its Eaton Corp. shares on the basis of one share of Eaton for every 10 ordinary shares of Farmer held by its shareholders. The property dividend was distributed on January 15, 2023. On the declaration date, the aggregate market price of the Eaton shares held by Farmer was 400,000. The entry to record the declaration of the dividend At December 31, 2021 and 2022, Plank Corp. had outstanding 2,000 shares of 100 par value 8% cumulative preference shares and 10,000 shares of 10 par value ordinary shares. At December 31, 2021, dividends in arrears on the preference shares were 8,000. Cash dividends declared in 2022 totaled 30,000. A. What amounts were payable on each class of stock? Preferencn Shame Ondi.unc. ct. B. You are required to record the journal entry at the date of declaration Retained earings dy