On January 5, 2017, Headland Corporation received a charter granting the right to issue 5,400 shares of $100 par value, 9% cumulative and nonparticipating preferred stock, and 52,900 shares of $10 par value common stock. It then completed these transactions.

Jan. 11		Issued 20,100 shares of common stock at $15 per share.
Feb. 1		Issued to Sanchez Corp. 4,200 shares of preferred stock for the following assets: equipment with a fair value of $49,600; a factory building with a fair value of $159,000; and land with an appraised value of $257,000.
July 29		Purchased 1,800 shares of common stock at $18 per share. (Use cost method.)
Aug. 10		Sold the 1,800 treasury shares at $13 per share.
Dec. 31		Declared a $0.30 per share cash dividend on the common stock and declared the preferred dividend.
Dec. 31		Closed the Income Summary account. There was a $173,800 net income.

For a) I need help with the entry for Declared a $0.30 per share cash dividend on the common stock and declared the preferred dividend

(b) Prepare the stockholders