Tilman Comfort Specialists, Inc. reported the following stockholders' equity on its balance sheet at June 30,2024 : (Click the icon to view the partial balance sheet.) Read the requirements. Requirement 1. Identify the different classes of stock that Tilman Comfort Specialists has outstanding. Tilman has outstanding. Requirement 2. What is the par value per share of Tilman Comfort Specialists' preferred stock? The par value per share of preferred stock is Stockholders' Equity Paid-In Capital: Preferred Stock -7\%, ? Par Value; 725,000 shares authorized, 300,000 shares issued and outstandin authorized, 1,330,000 shares issued and outstanding \begin{tabular}{lr} authorized, 1,330,000 shares issued and outstanding & 1,330,000 \\ \hline Paid-In Capital in Excess of Par-Common & 2,800,000 \\ \hline Total Paid-In Capital & 5,630,000 \\ \hline etained Earnings & 11,800,000 \\ \hline tal Stockholders' Equity & 17,430,000 \\ \hline \end{tabular} Requirements 1. Identify the different classes of stock that Tilman Comfort Specialists has outstanding. 2. What is the par value per share of Tilman Comfort Specialists' preferred stock? 3. Make two summary journal entries to record issuance of all the Tilman Comfort Specialists' stock for cash. Explanations are not required. 4. No preferred dividends are in arrears. Journalize the declaration of a $400,000 dividend at June 30,2024 , and the payment of the dividend on July 20, 2024. Use separate Dividends Payable accounts for preferred and common stock. An explanation is not required