Data Table Stockholders' Equity Paid-In Capital: Preferred Stock-8%, $10 Par Value; 150,000 shares authorized, 30,000 shares issued and outstanding $ 300,000 Common Stock-$3 Par Value; 575,000 shares authorized, 370,000 shares issued and outstanding 1,110,000 1,665,000 Paid-In Capital in Excess of Par-Common Total Paid-In Capital 3,075,000 190,000 Retained Earnings Total Stockholders' Equity $ 3,265,000 U SLOCK IS Cumulauve, compute une amount of dividends to preferred SIOCKnolders and to con X 1 Requirements 1. Assuming the preferred stock is cumulative, compute the amount of dividends to preferred stockholders and to common stockholders for 2018 and 2019 if total dividends are $23,000 in 2018 and $50,000 in 2019. Assume no changes in preferred stock and common stock in 2019. 2. Record the journal entries for 2018, assuming that Eastern Communications declared the dividend on December 1 for stockholders of record on December 10. Eastern Communications paid the dividend on December 20. Print Done Qel Requirement 1. Assuming the proferred stock is cumulative, compute the amount of dividends to preferred stockholders and to common stockholders for 2018 and 2019 i total dividends are $23,000 in 2018 and $50,000 in 2019. Assume no chongos in preferred stock and common stock in 2019. (Assume all preferred dividends have been paid prior to 2018. Complute all input boxes. Enter a "y" for zero amounts. For the current year preferred dividend, be sure to enter the calculated dividend on the current year dividend" line and the paid out dvidend on the total dividend to preferred stockholders" line.) Easter's 2018 dividend would be divided between proferred and common stockholders in this manner: Total Dividend-2018 Dividend to preferred stockholders: Dividend in arrears Current year dividend Total dividend to preferred stockholders Next Dividend to common stockholders Easter's 2019 dividend would be divided between preferred and common stockholders in this manner Total Dividend-2019 Dividend to preferred stockholders Dividend in WE Total Dividend 2019 Dividend to proferred stockholders Dividend in arrears Current year dividend Total dividend to preferred stockholders Dividend to common stockholders Requirement 2. Record the journal entries for 2018, assuming the Eastern Communications declared the dividend on December 1 for stockholders of record on December 10. Eustom Communications paid the dividend on December 20. (Record debits first, then credits. Select the explanation on the last line of the Journal entry table. I no entry is required, select "No entry required on the first line of the Accounts and Explanation column and leave the remaining coils blank.) Dec. 1. 2018 Declared dividend Date Accounts and Explanation Debit Credit Dec 1 EX WY SH Requirement 2. Record the journal entries for 2018, assuming that Eastern Communications declared the dividend on December 1 for stockholders of record on December 10. Eastern Communications paid the dividend on December 20. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. Il no entry in required, select "No entry required" on the first line of the Accounts and Explanation column and leave the remaining cells blank.) Dec. 1. 2018: Declared dividend, Date Accounts and Explanation Debit Credit Dec. 1 Next Doc 10, 2018: Date of record Date Accounts and Explanation Debit Credit De 10 Dec. 20. 2018: Paid dividend. Date Accounts and Explanation Debit Credit Dec. 20 HA