April 1-Dittrich Industries today announced that its Board of Directors has declared a cash dividend of $0.60 per share on 645,000 outstanding preferred shares. The dividend will be pald on or before May 31, to preferred sharehotders of record at the close of business on May 26. The Company's fiscal year will end on June 30. Required: 1. Prepare any journal entries that Dittrich Industries should make on the four dates mentioned in the press release. 2. What would the board of directors have considered before making the dividend decision? Complete this question by entering your answers in the tabs bolow. Prepare any journal entries that Dittrich Industries should make on the four dates mentioned in the press release. (If no entry is require for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the deciaration of a cash dividend of $0.60 per share for the 645,000 shares of preferred stock outstanding. Note: Enter debits before credits. Complete this question by entering your answers in the tabs below. What would the board of directors have considered before making the dividend decision? The board must consider the balances of retained earnings and cash before declaring a cash dividend. The board must consider the balances of common stock and cash before declaring a cash dividend. April 1-Dittrich Industries today announced that its Board of Directors has declared a cash dividend of $0.60 per share on 645,000 outstanding preferred shares. The dividend will be pald on or before May 31, to preferred sharehotders of record at the close of business on May 26. The Company's fiscal year will end on June 30. Required: 1. Prepare any journal entries that Dittrich Industries should make on the four dates mentioned in the press release. 2. What would the board of directors have considered before making the dividend decision? Complete this question by entering your answers in the tabs bolow. Prepare any journal entries that Dittrich Industries should make on the four dates mentioned in the press release. (If no entry is require for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the deciaration of a cash dividend of $0.60 per share for the 645,000 shares of preferred stock outstanding. Note: Enter debits before credits. Complete this question by entering your answers in the tabs below. What would the board of directors have considered before making the dividend decision? The board must consider the balances of retained earnings and cash before declaring a cash dividend. The board must consider the balances of common stock and cash before declaring a cash dividend