Dearborn Manufacturing Co. completed the following transactions during 2024 (Click the icon to view the transactions) Read the requirements More info Jan. 16 Requirement 1. Record the transactions in Deerborn's general journal (Record debits first, then credits. Select the explanation on Jan 16 Declared a cash dividend on the 6%, $103 par noncumulative preferred stock (1,050 shares outstanding). Declared a $0 2 Declared a cash dividend on the 6%, $103 par noncumulative preferred stock (1.050 shares outstanding) Declared a $0.20 per share dividend on the 100.000 shares of $2 par value common stock outstanding The date of record is January 31, and the payment date is February 15 Feb. 15 Paid the cash dividends.. Jun. 10 Dato Accounts and Explanation Debit Credit Jul 30 Jan 16 Aug. 15 Oct. 26 Split common stock 2-for-1. Declared a 30% stock dividend on the common stock. The market value of the common- stock was 59 per share. Distributed the stock dividend. Purchased 1,000 shares of treasury stock at $8 per share Nov. 8 Nov. 30 Sold 500 shares of treasury stock for $10 per share Sold 300 shares of treasury stock for 54 per share. Feb. 15 Paid the cash dividends Date Feb 15 Accounts and Explanation Debit Credit Jan 10 Split common stock 2-for-1 Date: Accounts and Explanation Debit Credit Jun-10 Jul. 30 Declared a 30% stock dividend on the common stock. The market value of the common stock was 59 per share Requirements 1. Record the transactions in Deerborn's general journal 2. Prepare the Deerbom's stockholders' equity section of the balance sheel as of December 31, 2024 Assume that Deerborn was authorized to issue 2.600 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 $2,060,000 Print Done