The following information applies to the questions displayed below) Permabilt Corp. was incorporated on January 1, 2016, and issued the following stock for cash: 2,700,000 shares of no-par common stock were authorized; 288,000 shares were issued on January 1, 2016, at $24 per share . 386,000 shares of $100 par value, 10.00% cumulative, preferred stock were authorized, and 128,000 shares were issued on January 1 20 Net income for the years ended December 31, 2016, 2017, and 2018, was $5,110,000, $7170,000, and $8,780,000, respectively , at $13 per share. No dividends were declared or paid during 2016 or 20 as of January 4, 2019. However, on December 17, 2018, the board of directors of Perm bilt Corp. declared dividends S6,0 payable on February 9 O to o cers of ecra equired Use the horizontal model for the issuance of common stock and preferred stock on January 1, 2016(Use amounts with + for increases and amounts with-for decreases.) Balance Sheet Income Statement Stockholders' EquityNot Income Liabilities | Net Use the horizontal model for the decaaion of dividends on December 17, 2018. (Use amounts with+for increases and amounts with -for decreases.) Balance Sheet Income Statement Assets Liabilities Stockholders' Equity Net Income Expen