just need 2 & 3

2. Use the horizontal model for the declaration of dividends on December 28, 2020. Indicate the financial statement erect (Enter decreases with a minus sign to indicate a negative financial statement effect.) Balance Sheet Liabilities Stockholders' Equity Net Incom Assets 3. Use the horizontal model for the payment of dividends on February 12, 2021 indicate the financial statement effect (Enter decreases with a minus sign to indicate a negative financial statement effect.) Net Income Balance Sheet Liabilities stockholders'Equity Assets neye HGUVIE [The following information applies to the questions displayed below.) Homestead Oil Corp. was incorporated on January 1, 2019, and issued the following stock for cash: 770,000 shares of no-par common stock were authorized: 150,000 shares were issued on January 1 2019, at $20.00 per share. . 230,000 shares of $110 par value, 9.00% cumulative preferred stock were authorized: 51,000 shares were issued on January 1, 2019, at $150 per share. Net income for the years ended December 31, 2019 and 2020 was $1,460,000 and $2,430,000, respectively, No dividends were declared or paid during 2019. However, on December 28, 2020, the board of directors of Homestead declared dividends of $1,830,000, payable on February 12, 2021 to holders of record as of January 19 2021 Required: 1. Use the horizontal model for the issuance of common stock and preferred stock on January 1 2019. Indicate the financial statement offect (Enter decreases with a minus sign to indicate a negative financial statement effect.) Answer is complete and corre Balance Sheet Liabilities Net Income Assets Cash 10,650.000 Stockholders' Equity Common stock 3,000,000 Preferred stock 5,610,000 Additional paid in capital 2,040,000 . 3