Italian Stallion the following translations during the year related to stockholders’ equity.February 1: Issues 4900 shares of no-par common stock for $14 share.May 15: Issues 700 shares of $10 par value preferred stock for $11 per share.October 1: Declares a cash dividend of $0.70 per share to all stockholders of record (both common and preferred) on October 15.October 15: Date of recordOctober 31: Pays the cash dividend declared on October 1 Required:Record each of these transactions. (If no entry is required for a transaction/event, select “No journal entry required” in the first account field.)