Common stock - $1 par, 2,000 shares issued and outstanding at the beginning and end of the year Net income for the year was $10,000 There is no preferred stock 1. If the Board of Directors decided on $1/share of common dividends, complete the following journal entry to record the declaration of the common dividends. Note, the payment date will be later in the year. Account name Debit Credit 2,000 2,000 2. What is the earnings per common share for the year? 3. If subsequent to this year, the company sold 100 additional shares of common stock for $2 each, complete the following journal entry? Account name Debit Credit Cash Common stock at par Capital paid in excess of par