Altuve Co. was incorporated on January 1, 2013, at which time 250,000 shares of $10 par value common stock were authorized, and 110,000 of these shares were issued for $17 per share. Net income for the year ended December 31, 2013, was $1,257,300. Altuve Co.s board of directors declared dividends of $3 per share of common stock on December 31, 2013, payable on February 7, 2014.

Use the horizontal model to show the effects of the following:

.

a. The issuance of common stock on January 1, 2013

b. The declaration of dividends on December 31, 2013.

c. The payment of dividends on February 7, 2014.

Balance sheet Income statement Assets Liabilities Stockholders' Equity Net Income Revenues Expenses