Gleneagles Corporation earned net income of $105,000 during the year ended December 31, 2018. On December 15, Gleneagles declared the annual cash dividend on its 10% preferred stock (10,500 shares with total par value of $105,000) and a $0.50 per share cash dividend on its common stock (80,000 shares with total par value of $800,000). Gleneagles then paid the dividends on January 4, 2019. Read the requirements a. Journalize for Gleneagles Corporation the declaration for the cash dividends on December 15, 2018. (Record debits first, then credits. Exclude explanations from any journal entries. Use only a single account to record the dividends.) Journal Entry Accounts Debit Credit Date 2018 Dec 15 b. Journalize for Gleneagles Corporation the payment of the cash dividends on January 4, 2019. Journal Entry Accounts Debit Credit Date 2019 Jan Did retained earnings increase or decrease during 2018? Bv how much? Did retained earnings increase or decrease during 2018? By how much? During 2018, retained earnings by $ Journalize the following for Gleneagles: a. Declaring the cash dividends on December 15, 2018 b. Paying the cash dividends on January 4, 2019 Did retained earnings increase or decrease during 2018? By how much