Project 3: Stockholders' Equity Instructions for Project 3: (10 points) Answer the following, based on the information given on the preceding page: ired: Answer the questions on the following page in this booklet and turn in the Capital stock, as of December 31, 2021: re booklet at the beginning of class on the date specified by your instructor. # of common shares authorized In below is the stockholders' equity section of Holiday Travels' balance sheet at # of common shares issued and outstanding ember 31, 2020 # of preferred shares issued and outstanding Common stock, $2 par value, 5,000,000 shares authorized, 390,000 shares issued and outstanding $720,000 Amount of cash dividend to common stockholders Additional paid-in capital 1,360,000 Retained earnings 2,530,000 Amount of cash dividend to preferred stockholders Total stockholders' equity $ 4.610,000 Total debit to Stock Dividends account 19 2021, the following events occurred: Holiday Travels was authorized to sell 120,000 shares of $100 par, 8% preferred stock Additional paid-in capital, at December 31, 2021 Holiday sold 18,000 shares of the preferred stock at its par value Retained earnings, at January 1, 2021 A cash dividend of $185,000 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 $18 per share Net income for the year was $1,350,000 Total Stockholders' Equity, at December 31, 2021 $