11:Sunland Company is authorized to issue 23900 shares of 7%, $100 par value preferred stock and 1050000 shares of no-par common stock with a stated value of $1 per share. If Sunland issues 11950 shares of preferred stock for land with an asking price of $1249000 and a market value of $1220000, which of the following would be the journal entry for Sunland to record?

Land 1220000 Preferred Stock 1195000 Paid-in Capital in Excess of Par-Preferred 25000 Land 1220000 Preferred Stock 1220000 Land 1249000 Preferred Stock 1195000 Paid-in Capital in Excess of Par-Preferred 54000 Land 1195000 Preferred Stock 1195000

16:Bonita, Inc. has 3600 shares of 5%, $50 par value, cumulative preferred stock and 72000 shares of $1 par value common stock outstanding at December 31, 2019. The board of directors declared and paid a $6500 dividend in 2019. In 2020, $28100 of dividends are declared and paid. What are the dividends received by the preferred and common shareholders in 2020?

Preferred Common $9000 $19100 $16600 $11500 $11500 $16600 $14050 $14050 Please help with both questions. Thank you.