Question 2 15 pts (15 minutes) The shareholders' equity section of Clampett Oil Ltd. at December 31, 2020, was as follows: $3 cumulative preferred shares, 10,000 shares authorized, 9,000 shares issued $900,000 Common shares, with 500,000 shares authorized, 400,000 shares issued 2,000,000 Preferred share dividends were not declared in 2020 and are in arrears. On September 15, 2021, the Board of Directors declared dividends on the preferred shares for 2020 and 2021. Shareholders of record on October 1, 2021 were eligible to receive the dividends which were payable on October 15, 2021. On November 1, 2021, the Board of Directors declared a $0.50 per share dividend on the common shares. The dividends are payable November 30, 2021, to shareholders of record on November 15, 2021. Instructions 1) Prepare Clampett Oil Ltd. journal entries on the following dates, if necessary: September 15, October 1, October 15, November 1, November 15, November 30. If no entry is needed write No entry required." 2) The market value per common share of Clampett Oil Ltd. is $20. Do investors perceive this company negatively or positively relative to the equity investment made historically in the company? How can you tell