Required information (The following Information applies to the questions displayed below.) Permabilt Corp. was incorporated on January 1, 2019, and issued the following stock for cash: . 2,000,000 shares of no-par common stock were authorized; 750,000 shares were issued on January 1, 2019, at $35 per share. .800,000 shares of $100 par value, 7.5% cumulative, preferred stock were authorized: 540,000 shares were issued on January 1, 2019, at $105 per share. No dividends were declared or paid during 2019 or 2020. However, on December 22, 2021, the board of directors of Permabilt Corp, declared dividends of $15,000,000, payable on February 12, 2022, to holders of record as of January 8, 2022 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.) Balance Sheet Income Statement Revenues Assets Liabilities Stockholders' Equity Net Income =