4. The owners are desirous of comparing serval financial transactions and possible outcomes to assist in guiding their decision-making process. They assume that the company will be formed on January 1, 2020. In addition, E&B Comic Bookstore Companys charter will authorize 1,200,000 shares of common stock (to be divided into two classes (700,000 shares class A -voting rights and 500,000 shares class B -nonvoting rights) and 400,000, $X par value (see info below), 5% cumulative preferred stock. A. Issued _20%_shares of class A common stock. Stock has par value of $30 per share and was issued at $ 40 per share. B. Issued 20% shares of no-par class B stock and $38 issue price. C. Issued 40% shares of preferred stock at $110 par value. D. Exchanged 50% shares of class A common stock for Office Furniture and Equipment with an appraised value of $4,0000000 and Motor Truck with an appraised value of $10,000,000. E. Earned Net income $1,800,000. F. Declared interim dividends for preferred shareholders as well as $.80 per share to common stockholders. Using the info above and as a guide: A. Prepare the journal entries with narrations to record the following: The issuances of stock. Close out net income to retained earnings. Dividend declared. Close out dividend to retained earnings.