Fowler Co.'s balance sheet showed the following at December 31, 2016: Common stock, $10 par $113,000 Paid-in capital - excess of par 56,500 Retained earnings 22,600 A cash dividend is declared on December 31, 2016, and is payable on January 20, 2017, to shareholders of record on January 10, 2017. Required: 1. Prepare all appropriate journal entries, assuming a cash dividend in the amount of $1.00 per share. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 1.Record cash dividend is declared on December 31, 2016 2.Record the entry on date of record. 3.Record payment of cash dividend on jan. 30 . Prepare all appropriate journal entries, assuming a cash dividend in the amount of $5.00 per share. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 1.Record cash dividend is declared on December 31, 2016. 2.Record the entry on date of record. 3.Record payment of cash dividend on jan.30