Preferred stock-100,000 shares of 6% $100 par value stock Common stock- 500,000 shares of $1 par value stock Retained earnings are $10,000,000. R E Require d: Prepare the journal entries from the information listed below. March 31- Declared a $2.00 dividend on the common stock, to the shareholders on record April 15th, payable on April 30th. e oucler h March 3 1-Declared of the preferred stock dividend to the shareholders on record April 15th, payable on April 30th June 30-Declared a 10% stock dividend on the common stock to the shareholders on record July 15th, distributable on July 315t. The FMV of the stock was $25/sh. September 30- Declared a $1.00 dividend on the common stock to the shareholders on record October 15th, payable on October 31st. September 30- Declared 1/2 of the preferred stock dividend to the shareholders on record October 15th payable on October 31st. Bonus Point: What is the balance of their retained earnings as of October 1st