View Policies Current Attempt in Progress Martinez Company reported the following amounts in the stockholders'equity section of its December 31, 2019, balance shee Preferred stock. 10%. $100 par 10.000 shares authorized, 2.200 shares issued) Common stock, $5 par (100,000 shares authorized 20.000 shares issued) Additional paid-in capital Retained earnings Total $220,000 100,000 135.000 436,000 $891,000 During 2020, Martinez took part in the following transactions concerning stockholders' equity. 1. 2 3. Paid the annual 2019 $10 per share dividend on preferred stock and a $2 per share dividend on common stock. These dividends had been declared on December 31, 2019. Purchased 1,900 shares of its own outstanding common stock for $39 per share. Martinez uses the cost method. Reissued 700 treasury shares tor land valued at $29,500. Issued 450 shares of preferred stock at $105 per share. Declared a 10% stock dividend on the outstanding common stock when the stock is selling for $46 per share, Issued the stock dividend. Declared the annual 2020 $10 per share dividend on preferred stock and the $2 per share dividend on common stock. These dividends are payable in 2021. 5. G. 7. (a) Prepare journal entries to record the transactions described above. (Credit account titles are automatically indented when amo is entered. Do not indent manually. If no entry is required, select "No Entry"for the account titles and enter for the amounts.) No. Account Titles and Explanation Debit Credit 1. 2. 3. 4 5. 6. 7