Required information The following mation les to the displayed below! Homestead of Corp was incorporated on January 1, 2019and issued the following stock for 940,000 shares of no par common stock were bort 150.000 were ud on January 300,00 por share 290,000 shares of $100 par value, 9.00% cumulative preferred stock were authorized: 76.000 shares were issued on Jenny 2019, at $0 per she Not income for the years and December 2009 and 2020 was $1.410,000 and $2,520.000 respectively No dividends were declared or paid during 2019. However, on December 28 2020. the board of directors of Homestead declared dividers of $790,000, ale on Februy 7, 2021, to folders of record of January 2021 Required 1. Use the horizontal model for the sunce of common stock and preferred stock onuary 2018, the ancial statement effect. (Enter decreases with a mission to indicate a negative financial statement effect Bianche comment - - 2. Use the horontal model for the deciation of dividends on December 28, 2020. Indicate the incitement effect decreases with a mission to indicate a negative financial statement effect) Beholders touty Nel 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: 840,000 shares of no-par common stock were authorized: 150,000 shares were issued on January 1, 2019, at $18.00 per share. 290,000 shares of $100 par value, 9.00% cumulative, preferred stock were authorized: 76,000 shares were issued on January 1, 2019, at $140 per share. Net income for the years ended December 31, 2019 and 2020 was $1,410,000 and $2,520,000, respectively. No dividends were declared or paid during 2019. However, on December 28, 2020, the board of directors of Homestead declared dividends of $1,790,000, payable on February 12, 2021, to holders of record as of January 19, . . 2021