Instructions for Project 1: Project 1: Stockholders' Equity Answer the following, based on the information given on the preceding page (10 points) Capital stock, as of December 31, 2021 Required! Answer the questions on the following page in Excel and upload your file to # of common shares cuthorized Moodis by the deadline specified by your instructor. # of common shares issued and outstanding Shown below is the stockholders' equity section of Holiday Travels' balance sheet of December 31, 2020 # of preferred shares issued and outstanding Common stock, $2 par value, 5,000,000 shares authorized. 370,000 shares issued and outstanding $740,000 Amount of cash dividend to common stockholders Additional paid-in capital 1,595,000 Amount of cash dividend to preferred stockholders Retained earnings 2 680,000 Total stockholders' equity $ 5.015 000 Total debit to Stock Dividends account During 2021, the following events occurred: Holiday Travels was authorized to sell 120,000 shares of $100 par, 8% preferred Additional paid-in capital, at December 31, 2021 stock Holiday sold 23,000 shares of the preferred stock at par value Retained earnings. at January 1, 2021 A cash dividend of $235,000 was declared and paid > Holiday Travels declared and issued a 10% stock dividend on the common stock when Retained earnings, at December 31, 2021 the market value of the stock was $19 per share Net income for the year was $1,690,000 Total Stockholders' Equity, at December 31, 2021