Starborn Manufacturing Co. completed the following transactions during 2016: 1 (Click the icon to view the transactions.) Requirements 1. Record the transactions in Starborn's general jounal. 2. Prepare the Starborn's stockholders' equity section of the balance sheet as of December 31, 2016. Assume that Starborn was authorized to issue 2,600 shares of preferred stock and 400,000 shares of common stock. Both preferred stock and common stock were issued at par. The ending balance of retained eamings as of December 31, 2016, is $2,010,000 Requirement 1. Record the transactions in Starborn's general journal. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. If no entry is required, select "No entry required" on the first line of the Accounts and Explanation column and leave the remaining cells blank.) Jan. 16: Declared a cash di dend on he 6%, S 97 par noncumulative preferred stock January 31, and the payment date is February 15. 50 shares outstanding). Declared a .30 per share dividend on e 100,000 shares of S8 par value common stock outstanding The date o record is Date Accounts and Explanation Debit Credit Jan. 16