Current Attempt in Progress Houle Ltd. was incorporated on January 15, 2020, and was authorized to issue 2.180.000 common shares and an unlimited amount of 135 fixed dividend. cumulative retractable on participating non-voting preferred shares. During the remainder of 2020, the company entered into the following transactions 1. Houle Issued 450.000 common shares in exchange for $7.785.000 in cash 2 A total of 200.000 preferred shares were issued for $12 ashare, 3. Adividend was declared on the preferred shares 4. A $0.25 dividend per share was declared on the common shares 5. The dividend on the preferred shares was paid. 6. The dividend on the common shares was paid. 7. The company had net income of $2.200.000 for the year. The closing entries for net income and the dividends declared accounts were prepare Les unu eller Ure UDUPILS No. Account Titles and Explanation Debit Credit (To close income summary) (To close dividends declared) List of Accounts Attempts: Stor 11.2000 2573 07.00 Question 4 View Polides Current Attempt in Progress Perahmagabow Company has 270.000 common shares outstanding. The market price of $ 210 per sharehas made the shares unuffordable to certain investors. Because it wants to make the shares more widely available to all investors, the company is deciding whether to split its shares four for one or declare a 30% stock dividend Prepare the journal entry if the comany decides to spilt its shares fourforare "No entry for the account titles and enter for the amounts) countles are alm inded when the amount Down e y Account Titles and Explanation Debit Credit List of Accounts Attempted for