Frenchroast Company earned net income of $93,000 during the year ended December 31,2020 . On December 15, Frenchroast declared the annual cash dividend on its 4% preferred stock (par value, $128,000) and a $0.55 per share cash dividend on its common stock (67,000) shares. Note:-When entering percent values, write the value as a percent without the percent (\%) symbof. Frenchroast then paid the dividends on January 4, 2021. Preferred Dividends - Common Dividends X = Total Dividend - \begin{tabular}{lllll} Date & Description & & Debit & Credit \\ \hline December 15 & & & \\ & & & & \end{tabular} January 4