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Watkins Enterprises earned net income of $95,000 during the year ended December 31,2012. On December...

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Accounting

Watkins Enterprises earned net income of $95,000 during the year ended December 31,2012. On December 15, 2012, Watkins Enterprises declared the annual cash dividend on its 2% preferred stock (total par value, $140,000) and a $0.70 per share cash dividend on its common stock (80,000 shares outstanding). Watkins Enterprises then paid the dividends on January 4, 2013. Journalize for Watkins Enterprises a. declaring the cash dividends on December 15, 2012. b. paying the cash dividends on January 4, 2013

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