Trane Comfort Specialists, Inc. reported the following stockholders' equity on its balance sheet at June 30, 2018: (Click the icon to view the partial balance sheet.) Read the requirements. Requirement 1. Identify the different classes of stock that Trane Comfort Specialists has outstanding. Trane has outstanding 1 Data Table $ 1,500,000 Stockholders' Equity Paid-In Capital Preferred Stock-5%, ? Par Value; 600,000 shares authorized, 300,000 shares issued and outstanding Common Stock_$1 Par Value; 6,000,000 shares authorized, 1,360,000 shares issued and outstanding Pald-In Capital in Excess of Par-Common Total Paid In Capital Retained Earnings 1,360,000 2,800,000 5,660,000 11,800,000 Total Stockholders' Equity $ 17,460,000 Print Done i Requirements 1. 2. 3. Identify the different classes of stock that Trane Comfort Specialists has outstanding What is the par value per share of Trane Comfort Specialists' preferred stock? Make two summary journal entries to record issuance of all the Trane Comfort Specialists' stock for cash. Explanations are not required. No preferred dividends are in arrears. Journalize the declaration of a $200,000 dividend at June 30, 2018, and the payment of the dividend on July 20, 2018. Use separate Dividends Payable accounts for preferred and common stock. An explanation is not required. 4. Print Done