Clearborn Manufacturing Co. completed the following transactions during 2024: (Click the icon to view the transactions.) Read the requirements Requirement 1. Record the transactions in Clearborn's general journal. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. If no entry is required, select "No entry required" on the first line of the Accounts and Explanation column and leave the remaining cells blank.) Jan. 16: Declared a cash dividend on the 5%, 595 par noncumulative preferred stock (1,000 shares outstanding). Declared a $0.20 per share dividend on the 80,000 shares of $10 par value common stock outstanding. The date of record is January 31, and the payment date is February 15. Credit Requirements Jalil 1. Record the transactions in Clearborn's general journal. 2. Prepare the Clearborn's stockholders' equity section of the balance sheet as of December 31, 2024. Assume that Clearborn was authorized to issue 1,500 shares of preferred stock and 400,000 shares of common stock. Both preferred stock and common stock were issued at par. The ending balance of retained earnings as of December 31, 2024, is $2,010,000. Fel Credit Fel Print Done Cash