Springer Co. was incorporated on January 1, 2019, at which time 500,000 shares of $1 par value common stock were authorized, and 210,000 of these shares were issued for $9 per share. Net income for the year ended December 31, 2019, was $1,900,000. Springer Co.s board of directors declared dividends of $1.40 per share of common stock on December 31, 2019, payable on January 27, 2020.

The entry to record the issuance of common stock on January 1, 2019 is:

Springer Co. was incorporated on January 1, 2019, at which time 500,000 shares of $1 par value common stock were authorized, and 210,000 of these shares were issued for $9 per share. Net income for the year ended December 31, 2019, was $1,900,000. Springer Co.'s board of directors declared dividends of $1.40 per share of common stock on December 31, 2019, payable on January 27, 2020. The entry to record the issuance of common stock on January 1, 2019 is: Multiple Choice Cash 1,890, e00 Dr. 1,890, e00 Cr. Common Stock Cash 1,890, e00 Dr. Cr. Common Stock 210, e00 Additional Paid-In Capital 1,680, e00 Cr. Cash |1,900,e00 Dr. 1,900, e00 Cr. Net Income Cash Dr. 4,500, e00 Common Stock Cr. 500, 000 Additional Paid-In Capital Cr. 4, e00, 000