Requirements 1. Record the transactions in Dearborn's general journal. 2. Prepare the Dearborn's stockholdersequity section of the balance sheet as of December 31, 2016. Assume that Dearborn was authorized to issue 2,200 shares of preferred stock and 400,000 shares of common stock. Both preferred stock and common stock fo 16 Declared a cash dividend on the 5%, $99 par noncumulative preferred stock (1,100 Jan. shares outstanding). Declared a $0.20 per share dividend on the 80,000 shares of $6 par value common stock outstanding. The date of record is January 31, and the payment date is February 15. 15 Paid the cash dividends. 10 Split common stock 2-for-1 30 Declared a 40% stock dividend on the common stock. The market value of the Feb. Jun. Jul, common stock was $9 per share. 15 Distributed the stock dividend. 26 Purchased 1,000 shares of treasury stock at $8 per share. Aug. Oct. Nov. 8 Sold 500 shares of treasury stock for $10 per share. 30 Sold 300 shares of treasurv stock for $4 per share. Print Done