Fantasyline, Inc. reported the following shareholders' equity section as of the beginning of the current year (Click the icon to view the data) During the current year, Fantasyline engaged in the following transactions affecting the stockholders' equity section of its current balance sheet 3. Purchased 260,000 shares of common stock at $36 per share. Account Current Year 1a. Declared a 5554,000 dividend for the first half of the year. (The declarations should be recorded separately for the common and the preferred shares.) Begin by preparing the entry to record the declaration of the dividend on preferred shares Account Current Year Stockholders' Equity Contributed Capital: Common Stock, $1 par value, 41,200,000 authorized and 890,000 shares issued, and 821,500 shares outstanding Additional Paid-in Capital in Excess of Par - Common Total Contributed Capital Retained Earnings Accumulated Other Comprehensive Income Less: Treasury Stock (89,000 common shares at cost) 890,000 22,400,000 $ 23,290,000 $ 9,663,350 1,062,700 (1,602,000) $ 32,414,050 Total Stockholders' Equity