The following information was obtained from Geneveraux Corporation records on December 31, 2017. Geneveraux uses dividends accounts to record dividend declarations and income summary accounts. Preferred Shares, $2 cumulative*. 25,000 shares authorized, $738,00I 22,000 shares issued and outstanding Common Shares, unlimited authorization, $900,00I 60,000 shares issued and outstandin Retained Earnings $560,00I *2016 and 2017 dividends in arrears REQUIRED: 1. Prepare journal entries for the following selected transactions during 2018. Declared a $150,000 cash dividend. payable on March 1 to the shareholders If record on January 31. (indicate the amount payable to each class of hareholder Mar. 1 Paid the cash dividends declared on Jan. 14 OD l'LI r. Declared a 10% share dividend on the common shares distributable June 1 to he shareholders of record on May 15. Market value was $15.00 on Apr. 30. June 1 Distributed the share dividend declared on April 30 b r: g. Issued 6,000 shares of the company's common shares at $18.00 per share. Z ov. issued 1,000 preferred shares at $36 per share. 20 3