Mo. was incorporated on January 1, 2016, at which time 425,000 shares of $10 par value common stock were authorized, and 180,000 of these shares were issued for $14 per share. Net income for the year ended December 31, 2016, was $2,057,400. Altuve Co.'s "Waru. directors declared dividends of $2 per share of common stock on December 31, 2016, payable on February 7, 2017 Required: a. Use the horizontal model to show the effects of the issuance of common stock on January 1, 2016. (Use amounts with + for increases and amounts with - for decreases.) Balance Sheet Liabilities Income Statement Revenues Assets Stockholders' Equity Net Income Expenses b. Use the horizontal model to show the effects of the declaration of dividends on December 31, 2016. (Use amounts with + for increases and amounts with for decreases.) Balance Sheet Liabilities Income Statement Revenues Assets Stockholders' Equity Net Income Expenses c. Use the horizontal model to show the effects of the payment of dividends on February 7, 2017. (Use amounts with + for increases and amounts with - for decreases.) Income Statement Balance Sheet Liabilities Assets Stockholders' Equity Net Income Revenues Expenses 4 d. Record the journal entry for the following transactions: (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet The issuance of common stock on January 1, 2016. Note: Enter debits before credits. Transaction General Journal Debit Credit a. Record entry Clear entry View general journal