Glenwood Corporation earned net income of $90,000 during the year ended December 31,2021 . On December 15 , Glenwood declared the annual cash dividend on its 1% preferred stock (13,000 shares with total par value of $130,000) and a $0.45 per share cash dividend on its common stock (65,000 shares with total par value of $650,000) Glenwood then paid the dividends on January 4, 2022. Read the requirements. a. Journalize for Glenwood Corporation the declaration for the cash dividends on December 15, 2021. (Record debits first, then credits. Exclude explanations from any journal entries. Use only a single account to record the dividends.) b. Journalize for Glenwood Corporation the payment of the cash dividends on January 4,2022. Did retained earnings increase or decrease during 2021? By how much? (Use a minus sign or parentheses for a decrease.) Increase (Decrease) in retained earnings during 2021= Requirements Journalize the following for Glenwood: a. Declaring the cash dividends on December 15, 2021 b. Paying the cash dividends on January 4,2022 Did retained earnings increase or decrease during 2021? By how much