Required information The following information applies to the questions displayed below) Homestead Oil Corp. was incorporated on January 1, 2019, and issued the following stock for cash 830,000 shares of no par common stock were authorized: 150,000 shares were issued on January 1 2019. at $19.00 per share 240.000 shares of $120 par value. 9.00% cumulative preferred stock were authorized: 71,000 shares were issued on January 1, 2019. at $140 per share . Net income for the years ended December 31, 2019 and 2020 was $1.250.000 and $2,560,000, respectively No dividends were declared or paid during 2019. However, on December 28, 2020, the board of directors of Homestead declared dividends of $1680.000, payable on February 12. 2021 to holders of record as of January 19. 2021 Required: 1. Use the horizontal model for the issuance of common stock and preferred stock on January 1, 2019. Indicate the financial statement xeffect (Enter decreases with a minus sign to indicate a negative finoncial statement effect.) Balance Sheet Required: 1. Use the horizontal model for the issuance of common stock and preferred stock on January 1, 2019. Indicate the financial statement effect. (Enter decreases with a minus sign to indicate a negative financial statement effect.) Assets Elalance Sheut Liabilities Stockholders' Equity Net Income aces Additional paid in a Show All items Cash Common stock Dividends payable Preferred stock Retained earnings 1 of 2