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Rachel's Designs has 1,100 shares of 5%, $50 par value cumulative preferred stock issued at the beginning of 2019. Al remaining shares are common stock. Due to cash flow difficulties, the company was not able to pay dividends in 2019 or 2020. The company plans to pay total dividends of $10,000 in 2021. How much of the $10,000 dividend will be paid to preferred stockholders and how much will be paid to common stockholders? Preferred dividends in arrears for 2019 and 2020 Preferred dividends for 2021 Remaining dividends to common stockholders Total dividends 1750 1.750 Divine Apparel has 3,000 shares of common stock outstanding. On October 1, the company declares a $0.50 per share dividend to stockholders of record on October 15. The dividend is paid on October 31. Record all transactions on the appropriate dates for cash dividends. (If no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field.) View transaction list Journal entry worksheet 2 3 Record the declaration of cash dividends. Note: Enter debits before credits Date General Journal Debit Credit October 01 Record entry Charry Viww e ral journal On June 30, the board of directors of Sandals, Inc., declares and pays a 100% stock dividend on its 10,000, $1 par, common shares. The market price of Sandals common stock is $15 on June 30. Record the stock dividend. (If no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field.) View transaction list Journal entry worksheet Record the stock dividend. Nata e debit been credits General Journal Debit Transaction June 30 Credit Chants Vitan gertaral journal Summit Apparel has the following accounts at December 31: Common Stock, $1 par value, 1,800,000 shares issued; Additional Paid-in Capital, $16.20 million; Retained Earnings. $9.20 million; and Treasury Stock, 42,000 shares, $0.924 million Prepare the stockholders' equity section of the balance sheet. (Amounts to be deducted should be indicated by a minus sign. Enter your answer in dollars, not millions. For example, $5.5 million should be entered as 5,500,000.) SUMMIT APPAREL Balance Sheet (Stockholders' Equity Section) December 31 Stockholders' equity: Total Paid-in Capital Total Stockholders' Equity $

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