of 2 Required information 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: .860,000 shares of no-par common stock were authorized: 160.000 shares were issued on January 1, 2019, at $18.00 per share . 270,000 shares of $110 par value, 9.00% cumulative, preferred stock were authorized: 68,000 shares were issued on January 1 2019, at $150 per share. . Net income for the years ended December 31, 2019 and 2020 was $1.240,000 and $2.470,000, respectively, . No dividends were declared or paid during 2019. However, on December 28, 2020, the board of directors of Homestead declared dividends of $1450.000, payable on February 12, 2021, to holders of record as of January 19, 2021 Pm Required: 1. Use the horizontal model for the issuance of common stock and preferred stock on January 1 2019. indicate the financial statement effect. (Enter decreases with a minus sign to indicate a negative financial statement effect.) Balance Sheet Liabilities Net Income Revens Assets 2.880.000 Cash Stockholders' Equity + Common stock + Preferred stock + Additional paid-in capital = Required information 2. Use the horizontal model for the declaration of dividends on December 28, 2020. Indicate the financial statement effect. (Enter decreases with a minus sign to indicate a negative financial statement effect.) Balance Sheet Liabilities Stockholders' Equity Net Income Assets Revenu 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.) Balance Sheet Liabilities Income Statement Revenues Assets + Stockholders' Equity Net Income