Earlgrey Company earned net income of $90,000 during the year ended December 31, 2018. On December 15, Earlgrey declared the annual cash dividend on its 5% preferred stock (par value, $108,000) and a $0.25 per share cash dividend on its common stock (60,000 shares). Earlgrey then paid the dividends on January 4, 2019. Cal Read the requirements Pret Requirement 1. Journalize for Earlgrey the entry declaring the cash dividends on December 15, 2018. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Reg 2018 Dat Dec. 15 1/4 i Requirements debi 1. Journalize for Earlgrey the entry declaring the cash dividends on December 15, 2018. 2. Journalize for Earlgrey the entry paying the cash dividends on January 4, 2019. Print Done