Glenmore Corporation earned net income of $ 150,000 during the year ended December 31, 2020. On December 15, Glenmore had declared the annual cash dividend on its 60 65 preferred shares (25,000 shares issued for $250 000) and a $0 75 per share cash dividend on its common shares (55,000 shares for $110,000). Glenmore then paid the dividends on January 4, 2021 a. Journalize the following for Glenmore Corporation Declaring 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? IO a. Journalize Glenmore Corporation's declaration for the cash dividends on December 15, 2020 (Record debits first, then credits. Explanations are not required.) Accounts Debit Date Credit Dec 15, 2020 b. Journalize Glenmore Corporation's payment of the cash dividends on January 4, 2021 Debit Credit Accounts Date Jan. 4. 2021 Next Did Retained Earnings increase or decrease during 2020? By how much? During 2020, retained earnings by $ $