Prepare the journal entry to record Tamasine Companys issuance of 7,000 shares of $100 par value, 6% cumulative preferred stock for $105 cash per share. Record the issue of $100 par value preferred stock for $105 cash per share. Assuming the facts in part 1, if Tamasine declares a year-end cash dividend, what is the amount of dividend paid to preferred shareholders? (Assume no dividends in arrears.)