CH13: Accounting for corporations Homework You have been hired as a new Junior Accountant in the International Trading Inc. Corporation and will be in charge of recording the year 2022 daily operations transactions of the company: Jan. 1 International Trading Inc. opened with the following stockholders: Name Investment Stock Type Mary Jenkins $50,000 Preferred Stock Robert Moore $ 50,000 Common Stock Nancy Lee $ 50,000 50% Preferred 50% Common Note: Common Stock Par Value $ 1.00 Preferred Stock Par Value: $5.00 Jan. 25 Issued 20,000 shares of $ 1 par common stock and sold them at $25 per share. Feb. 10 Issued 5,000 shares of $ 5 par Preferred stock and sold them at $ 35 per share. April 4 The company declared cash dividends as follows: Common stock dividend per share= $ 0.25 Preferred stock dividend per share= $0.80 April 10 The company paid the dividends declared on April 4. July 5 The company declared a 10% common stock dividend to common stockholders. The stock certificates will be issued on July 11. The market value of the common stock share is $ 20 per share. July 11 Issued the stock certificates for common stockholders. Required: Journal entries for these transactions