S 11-11 (Algo) Preferred stock issuance and dividends LO C2 1. Prepare the journal entry to record Tamas Companys issuance of 6,000 shares of $100 par value, 8% cumulative preferred stock for $106 cash per share. 2. Assuming the facts in part 1, if Tamas declares a year-end cash dividend, what is the amount of dividend paid to preferred shareholders? (Assume no dividends in arrears.)