Question 9A Two Oaks Inc. earned net income of \$453,620 during the year ended July 31, 2023. On June 30, 2023 Two Oaks Inc. declared an annual cash dividend on its \$2.05 preferred shares (75,000 shares issued for $150,000) and a $2.25 per share cash dividend on its common shares (100,000 shares for $100,000). The date of record was July 15, 2023 and the dividends were paid on August 31, 2023. Required 9A 1 Record the journal entries to record the declaration of the dividends and the payment of the dividends. (Show common and preferred shares separately) 2 After all of the above transactions and net income for the year, did retained earnings increase or decrease during 2023 and by how much? Question 9B (Question is independent of 9A) Karl's Kars Inc.. has 110,000 common shares issued and outstanding. If Karl's Kars. distributes a 30% stock dividend on December 1, 2023 when the market price (fair value) of it's shares are $9.50 per share. Required 9B 1 Record the journal entries to record the dividend, no descriptions required. 2 How many shares are issued after the dividend