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Question 1 of 1 10/20i 5 eTextbook and Media Hist of Accounts Attemptsio of 3 used subnit Aliwer Current Attempt in Progress On December 31, 2024, Sheridan Company had 1,310,000 shares of $5 par common stock issued and outstanding At Decomber 31 2024. stockholders' equity had the amounts listed here. Transactions during 2025 and other information related to stockholders' equity accounts were as follows. 1. On January 10 , issued at $109 per share 114,000 shares of $100 par value, 99 cumulative preferred stock. 2. On February 8 , reacquired 16,900 shares of its common stock for $11 per share. 3. On May 9, declared the yearly cash dividend on preferred stock, payable June 20 to stockholders of recond on Mar 31 4. On June 8, declared a cash dividend of $1.20 per share on the common stock outstandine pyable on tuly 10 to stocksolden of record on July 1. 5. Net income far 2025 was $3,687,000. Record the journal entries that are required for items 1-5 above. (Record entries in the order displayed in the problem statement: Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries.) Dividends Payable 10/20 Jun. 8 Cash Dividends 1026000 1.551 .720 Dividends Payable Jun. 10 Dividends Payable Cash Jul. 10 Dividends Payable Cash Dec.31 Income Surnmary Retained Eamings (To close net income) (To dose cash dividends)