Check my work On November 1 of Year 5, you were hired as the treasurer for Rayburn Processing. Part of your job duties include maintaining accurate records of the company's stockholders and issuing dividend payments. The Board of Directors declared a dividend of $2 per share on December 1 for all stockholders of record on December 15. The dividend is paid on December 31. Examine the following ple charts to understand the company's five-year history of stock and answer the following questions. Year 2 Year 1 Authorized Number of Shares Authorized Number of Shares Authorized Number of Shares 400,000 Unissued Outstanding Treasury Unised Outstanding 600,000 Out! TE 1,000,000 Treasury Authorized Number of Shares Authorld Number of Shares 50,000 Song Som.000 350.000 Unissued Outstanding 450,000 600,000 Outstanding Trey Treasury Click here to open the graph(s) in a new tab. Required: 1. What is the authorized number of shares in Year 1? HUP Save & Exit Submit Check my work Click here to open the graph(s) in a new tab. Required: 1. What is the authorized number of shares in Year 1? 2. What event took place in Year 2? 3. What event took place in Year 3? 4. What event took place in Year 4? 5. What happened to the authorized number of shares over the entire five-year period? 6. Prepare the journal entries for December 1, December 15, and December 31 in Year 5 for dividends (Hint: Consider the type of stock on which dividends are paid). nces Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 What is the authorized number of shares in Year 1? Authorized Number of shares Required 2 >