Homestead Oil Corp. was incorporated on January 1, 2013, and issued the following stock for cash:

800,000 shares of no-par common stock were authorized; 150,000 shares were issued on January 1, 2013, at $19 per share.

200,000 shares of $100 par value, 9.5% cumulative, preferred stock were authorized, and 60,000 shares were issued on January 1, 2013, at $122 per share.

Net income for the years ended December 31, 2013 and 2014, was $1,300,000 and $2,800,000, respectively.

No dividends were declared or paid during 2013. However, on December 28, 2014, the board of directors of Homestead declared dividends of $1,800,000, payable on February 12, 2015, to holders of record as of January 19, 2015.

A.) Prepare the journal entries to record each of the below transactions.
1.	The issuance of common stock and preferred stock on January 1, 2013.
2.	The declaration of dividends on December 28, 2014.
3.	The payment of dividends on February 12, 2015.

B.) Of the total amount of dividends declared during 2014, how much will be received by preferred shareholders?