The 56:55 Flex Comparation showed the following amount in the quality section of its balance sheet January 1, 2021 BE 5500,000 Preferred Shores, 52 cumulative (in cars for 2020), 10,000 shares issued Common shares 40,000 shares issued Retained Earnings S00.000 5500,000 On Dec 31, 2021 Hex reported profit of $70,000 for the year. REQUIRED -- in the box below: Prepare the journal entries for the following 2 transactions. Use the Cash Dividends General Ledger Account 1. On Jan 20, 2021, 10,000 common shares were issued for S150,000 2. On Nov. 1, 2021, Cash dividends of $90,000 were declared. Dividends will be paid on January 18, 2022