Data Table - X - Stockholders' Equity Amount Preferred stock, 7.5% cumulative-par value $30 per share; authorized 200,000 shares in each class Class A-issued 78,000 shares .......$ 2,340,000 Class B-issued 96,000 shares 2.880,000 Common stock-$2 par value: authorized 1,400,000 shares, issued 300,000 shares 600.000 Additional paid-in capital-common 5.570,000 8.330,000 Retained earnings.. $ 19,720.000 . Print Done Teak Outdoor Furniture Company included the following stockholders' equity on its year-end balance sheet at March 31, 2019 (Click the icon to view the partial balance sheet) Read the requirements Requirement 1. Identify the different issues of stock that Teak Outdoor Furniture Company has outstanding (la box is not used in the table, leave the box empty do not make a selection) Issue of stock Requirement 2. Give the summary entries to recordance of all the Teak stock Assume that all the Requirement 2. Give the summary entries to record issuance of all the Teak stock. Assume that all the stock was issued for cash Explanations are not required (Record debits first, then credits Exclude explanations from any journal entries) Record issuance of the Class A Preferred Stock Journal Entry Date Accounts Debit Credit Record Issuance of the Class B Preferred Stock Journal Entry Accounts Date Debit Credit Record issuance of the Common Stock Date Journal Entry Accounts Debit Credit Requirement 3. Suppose Teak passed its preferred dividends for three years. Would the company have to pay those dividends in arrears before paying dividends to the common stockholders? Give your reason Teak Outdoor Furniture Company preferred stock is have to pay preferred dividends in arrears before paying dividends to the common stockholders because the Requirement 4. What amount of preferred dividends must Teak declare and pay each year to avoid having preferred dividends in arrears? Teak must declare and pay dividends of each year to avoid having preferred dividends in arrears Requirement 5. Assume that preferred dividends are in arrears for 2018. Journalize the declaration of a 3920,000 dividend on February 28, 2019 An explanation is not required. (Record debits first, then credits Exclude explanations from any journal entries Journal Entry Date Accounts Debit Credit Feb 28 Chinawonten in einu elds and then continued text