Altuve Co. was incorporated on January 1, 2013, at which time 500,000 shares of $1 par value common stock were authorized, and 210,000 of these shares were issued for $15 per share. Net income for the year ended December 31, 2013, was $2,400,000. Altuve Co.'s board of directors declared dividends of $4 per share of common stock on December 31, 2013, payable on February 7, 2014.

Required:
Use the horizontal model (or write the entry) to show the effects of
a. The issuance of common stock on January 1, 2013.
b. The declaration of dividends on December 31, 2013.
c. The payment of dividends on February 7, 2014.