E10-10 Recording the Payment of Dividends LO10-4 Sun Life Financial Inc. Sun Life Financial Inc. disclosed the following information in a press release: Sun Life Declares Dividends on Common and Preferred Shares Payable in Q2 2022 TORONTO, May 11, 2022/CNW/-The Board of Directors (the "Board") of Sun Life Financial Inc. (the "Company") (TSX: SLF) (NYSE: SLF) today announced that a dividend of $0.69 per share on the common shares of the Company has been declared, payable June 30, 2022 to shareholders of record at the close of business on June 1, 2022. This reflects an increase of 3 cents per share from the amount paid in the previous quarter. The Board also announced that the following dividends have been declared on the Company's Class A Non-Cumulative Preferred Shares, payable on June 30, 2022 to shareholders of record at the close of business on June 1, 2022: Source: Sun Life Financial Inc., News Releases. Required: 1. Prepare the journal entries to record the declaration and payment of dividends to common shareholders. Assume that there were 586.1 million common shares outstanding on May 11, 2022. 2. Prepare the journal entries to record the declaration and payment of dividends to the holders of 6.8 million Series 10R preferred shares. 3. All the preferred shares were sold and issued on different dates between 2006 and 2016 at $25 per share. Why does Sun Life pay different dividend amounts for the different series