ABC corporation began operations on January 1, 2019 (see also part b). The following transactions relating to the stockholders equity occurred in the first two years of the company's operations: 2019 Authorized the issuance of 2 million shares of $5 par value common stock and 100,000 shares of $100 par value, 10% cumulative, preferred stock. Jan. 2 Issued 200,000 shares of common stock for $12 per share. Jan. 3 Issued 100,000 shares of common stock in exchange for a building valued at $820,000 and merchandise inventory valued at $380,000. Jan.5 Issued 12,000 shares of preferred stock for $110 cash per share. 2020 June 4 Issued 100,000 shares of common stock for $15 cash per share 42a) Prepare the journal entries for the above transactions in the format below: Date Explanation Debit Credit 42b) Do not prepare journal entries for this portion instead prepare a table showing the dividend allocations for 2019 and 2020 assuming that ABC corporation declares the following cash dividends 2019 $50,000 and 2020 $300,000 in the format below Description Common Preferred