Question 2 The following information was obtained from Geneveraux Corporation records on December 31, 2017. Geneveraux uses dividends accounts to record dividend declarations and income summary accounts. Preferred Shares, $2 cumulative*, 25,000 shares authorized, $738,000 22,000 shares issued and outstanding Common Shares, unlimited authorization, $900,000 60,000 shares issued and outstanding Retained Earnings $560,000 *2016 and 2017 dividends in arrears REQUIRED: 1. Prepare journal entries for the following selected transactions during 2018. Jan. Declared a $150,000 cash dividend, payable on March 1 to the shareholders 14 of record on January 31. (indicate the amount payable to each class of shareholder) Mar. 1 Paid the cash dividends declared on Jan. 14 Apr. Declared a 10% share dividend on the common shares distributable June 1 to 30 the shareholders of record on May 15. Market value was $15.00 on Apr. 30. June 1 Distributed the share dividend declared on April 30 Aug. ssued 6,000 shares of the company's common shares at $18.00 per share. 31 Nov. ssued 1,000 preferred shares at $36 per share. 20