Gleneagies Corporation earned net income of $100,000 during the year ended December 31,2020 . On December 15 , Gieneagies had declared the annual Cash divdend on ta se 53 . preferred shares (11,500 shares issued for $115,000) and a $0.65 per share cash dividend on its common shares (20,000 shares tor $40,000). Gieneagies then paid the dividents co January 4,2021 Journalize the following for Gleneagles Corporation: a. Deciaring the cash dividends on December 15,2020 b. Paying the cash dividends on January 4,2021 Did Retained Earnings increase or decrease during 2020 ? By how much? a. Joumalize Gleneagles Corporation's declaration for the cash dividends on December 15,2020 . (Record debits first, then credits. Explanations are not required.)