Before preparing financial statements for the current year, the chief accountant for Oriole Ltd provided the following information regarding the accounting for dividends and stock splits: 1 2 Oriole has 16.400.54 noncumulative preferred shares issued. It paid the preferred shareholders the quarterly dividend, and recorded it as a debit to Dividends Expense anda credit to Cash A5% stock dividend 1.000 shares was declared on the common shares when the fair value per share was $12. To record the declaration, Retained Earnings was debited and Dividends Payable was created. The shares have not been issued yet. The company declared a 2 for 1 stock split on its 16,000 54 moccumulative preferred shares. The worse per share amount of the preferred shares before the solit was 570. The split was recorded as a debit to Retained Earnings of $1.148.000 and a credit to Preferred Shares of $1148.000 Determine it each of the above transaction was recorded correctly and it not prepare the correct entry (Credit account titles are automatically indented when the amount is entered. Do not indere manual 10 entry is required, select "No Entry for the account titles und enter for the mounts: Date Account Titles and Explanation Debit Credit here to see BE DO top 3 $5 4 56 5 6 8 7 00 0 W E R T O P 5 C 3 S D F G . H J K ? E DAS . N C V B N M P alt alt