Project 3: Stockholders' Equity (10 points) Required: Answer the questions on the following page in this booklet and turn in the entire booklet at the beginning of class on the date specified by your instructor Shown below is the stockholders' equity section of Jumpin' Jim's balance sheet at December 31, 2019: Common stock, $1 par value, 5,000,000 shares authorized, 690,000 shares issued and outstanding Additional paid-in capital Retained earnings Total stockholders' equity $690,000 1,280,000 2,650,000 $ 4.620.000 During 2020, the following events occurred: Jumpin' Jim's was authorized to sell 120,000 shares of $100 par, 8% preferred stock Jumpin' Jim's sold 18,000 shares of the preferred stock at its par value A cash dividend of $270,000 was declared and paid Jumpin' Jim's declared and issued a 10% stock dividend on the common stock when the market value of the stock was $14 per share Net income for the year was $1,650,000 Instructions for Project 3: the following, based on the information given on the preceding page: Capital stock, as of December 31, 2020: # of common shares authorized # of common shares issued and outstanding # of preferred shares issued and outstanding Amount of cash dividend to common stockholders Amount of cash dividend to preferred stockholders Total debit to Stock Dividends account Additional paid-in capital, at December 31, 2020 Retained earnings, at January 1, 2020 Retained earnings, at December 31, 2020 Total Stockholders' Equity, at December 31, 2020