Laura & Marty Ltd did not pay dividends on its 75%, $100 par value cumulative preferred stock during 2018 or 2019. Since 2012, 130,000 shares of this stock have been outstanding, Laura & Marty Ltd. has been profitable in 2020 and is considering a cash dividend on its common stock that would be payable in December 2020. Required: Calculate the amount of dividends that would have to be paid on the preferred stock before a cash dividend could be paid to the common stockholders. Amount of dividends Altuve Co was incorporated on January 1, 2019, at which time 275,000 shares of $10 par value common stock were authorized, and 115,000 of these shares were issued for $18 per share. Net income for the year ended December 31, 2019, was $1,314,450. Altuve Co's board of directors declared dividends of $2 per share of common stock on December 31, 2019. payable on February 7, 2020 Required: a. Use the horizontal model to show the effects of the issuance of common stock on January 1, 2019. Indicate the financial statement effect b. Use the horizontal model to show the effects of the declaration of dividends on December 31, 2019. Indicate the financial statement effect c. Use the horizontal model to show the effects of the payment of dividends on February 7, 2020 Indicate the financial statement effect d. Record the journal entry for the following transactions: Complete this question by entering your answers in the tabs below. Required A Required B Required Required D