December 2006 Part Level Submen) The r a ce of Sheridan Corporation Preferred (16,000 shares ) Common Stock (259,000 shares und Pada Capital in bass of Par-Preferred Stock Pidin Capital incess of Pare-Common Stock Common Stock Dividends Distributable Red Famings 2,590,000 259.000 410,000 259.000 A review of the accounting records reveals the following No errors have been made in recording 2020 transaction or in preparing the closing entry for net income Preferred Mocks 50 , , and cumulative; 16,000 shares have been using since ay 1, 2018 Authorized Meckis 21,000 shares of preferred, 518,000 shares of common with a $10 par value The January 1 balance in Retained Earnings was $1,120,000 On July 1, 21,600 shares of common stock were issued for cash 18 per share On September 1, the company discovered an understatement error of $87,000 in computing sales and was A cash dividend of $259,000 was declared and properly allocated to preferred and common stod on October 1 On December 31, 10% common stock dividend was declared out of retained earnings on common stock when Netcome for the year was $588.000 10. On December 31, 2020, the directors authored score of a $193,000 restriction of retained earnings for th The offect of eri 2016 d M Your answer is correct. d in the p Reproduce the retained Earnings account for 2020. (List Iteme in Onde Retained Earnings . Sept. 1 Prior Per. Adj. 60,900|| Jan. 1 Balance 120,000 Dec 31 Cash Dividends 259,000 || Dec. 31 Net Income Ded! Bi Stock Dividends 4662001 www Dec 31 Balance 921900 Click if you would like to show Work for this question: Open Show Work Your answer is correct. Prepare a stockholders' equity section at December 31, 2020. (Enter account name only and do not provide descriptive Information.) SHERIDAN CORPORATION. Partial Balance Sheet December 31, 2020 Stockholders' Equity Paid-in Capital Capital Stock 800,000 Preferred Stock Common Stock T2,590,000 Common Stock Dividends Distributable 1 T 259,000 2,849,000 Total Capital Stock 3,649,000 Additional Paid-in Capital 1 Paid-in Capital in Excess of Par-Preferred Stock 259,000 Pald-in Capital in Excess of Par-Common Stock 410,000 Total Additional Paid-in Capital T 669,000 Total Paid-in Capital 4,318,000 Retained Carnings 1 921,900 Total Stockholders' Equity 5,239,90 5.239,900 (c) Compute the allocation of the cash dividend to preferred and common stock. Allocation of the cash dividend to preferred stock Allocation of the cash dividend to common stock Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT I need specific information