Glenmore Corporation earned net income of $75,000 during the year ended December 31, 2018. On December 15, Glenmore declared the annual cash dividend on its 7% preferred stock (12,500 shares with total par value of $125,000) and a $0.35 per share cash dividend on its common stock (75,000 shares with total par value of $750,000). Glenmore then paid the dividends on January 4, 2019. Read the requirements. a. Journalize for Glenmore 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 150 C C b. Journalize for Glenmore Corporation the payment of the cash dividends on January 4, 2019. Journal Entry Accounts Date Debit Credit 2019 Jan 4 N N Did retained earnings increase or decrease during 2018? By how much? During 2018, retained earnings by $ D