QS 11-11 (Algo) Preferred stock issuance and dividends LO C2 1. Prepare the journal entry to record Tamas Company's Issuance of 7,000 shares of $100 par value, 6% cumulative preferred stock for $105 cash per share 2. Assuming the facts in part 1, if Tomas declares a year-end cash dividend, what is the amount of dividend paid to preferred shareholders? (Assume no dividends in arrears.) Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 shareholders? (Assume no dividends in arrears) Assuming the facts in part 1, Tamas declares a year-end cash dividend, what is the amount of dividend paid to preferred Par Value per Preferred Share 100 Dividend Rate Dividend per Preferred Share 8.00 Number of Preferred Shares 35,000 Preferred Dividend 80% $ 210,000