On November 1 of Year 5, you were hired as the treasurer for Rayburn Processing. Part of your job duties include maintaining accurate records of the company's stockholders and issuing dividend payments. The Board of Directors declared a dividend of $2 per share on December 1 for all stockholders of record on December 15. The dividend is paid on December 31. Examine the following pie charts to understand the company's five-year history of stock and answer the following questions. Authored Number of Shares Authored Number of Shares Authorted Number of Sharm 400,000 Und Outstanding 0 Und Outstande Try 600,000 Unicod Outstanding Treasury 1.000.000 Author Number of Shares Authod Number of Shares 50,000 50.000 250,000 A50,000 500,000 600,000 Outstand Ontanding Click here to open the graphis) in a new tab. Required: 1. What is the authorized number of shares in Year 12 2. What event took place in Year 27 3. What event took place in Year 3? 4. What event took place in Year 4? 5. What happened to the authorized number of shares over the entire five-year period? 6. Prepare the journal entries for December 1, December 15, and December 31 in Year 5 for dividends (Hint: Consider the type of stock on which dividends are paid)