Clearbom Manufacturing Co. completed the following transactions during 2018: i (Click the icon to view the transactions.) Read the requirements Requirement 1. Record the transactions in Clearborn's general Journal (Record debits first, then credits. Select the explanation on the last line of the journal entry table. I 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 dividend on the 4%, $100 par noncumulative preferred stock (950 shares outstanding). Declared a $0.20 per share dividend on the 85,000 shares of S4 par value common stock outstanding. The date of record is January 31, and the payment date is February 15. Date Accounts and Explanation Debit Credit Jan. 16 More Info he jou khe hd on of Jan. 16 Declared a cash dividend on the 4%, $100 par noncumulative preferred stock (950 shares outstanding). Declared a $0.20 per share dividend on the 85,000 shares of $4 par value common stock outstanding. The date of record is January 31, and the payment date is February 15. Feb. 15 Paid the cash dividends. Jun. 10 Split common stock 2-for-1 Jul. 30 Declared a 30% stock dividend on the common stock. The market value of the common stock was $8 per share. Aug. 15 Distributed the stock dividend. Oct 26 Purchased 1,600 shares of treasury stock at $10 per share. Nov. 8 Sold 800 shares of treasury stock for $12 per share. 30 Sold 700 shares of treasury stock for S7 per share. dividend on the 1. Record the transactions in Clearborn's general journal. 2. Prepare the Clearborn's stockholders' equity section of the balance sheet as of December 31, 2018. Assume that Clearborn was authorized to issue 1.800 shares of preferred stock and 500,000 shares of common stock. Both preferred stock and common stock were issued at par. The ending balance of retained earnings as of December 31, 2018, is $2,050,000. Print Done