E13-25 (similar to) Question Help Westem Communications has the following stockholders' equity on December 31, 2016: EE (Click on the icon to view the stockholders' equity) Requirements 1. Assuming the preferred stock is cumulative, compute the amount of dividends to preferred stockholders and to common stockholders for 2016 and 2017 if total dividends are $21,000 in 2016 and$45,000 in 2017. Assume no changes in preferred stock and common stock in 2017 2. Record the journal entries for 2016, assuming that Western Communications declared the dividend on December 1 for stockholders of record on December 10. Western Communications paid the dividend on December 20 Requirement1. Assuming the preferred stock is cumulative, compute the amount of dividends to preferred stockholders and to common stockholders for 2016 and 2017 if total dividends are $21,000 in 2016 and $45,000 in 2017. Assume no changes in preferred stock and common stock in 2017. (Assume all preferred dividends have been paid prior to 2016. Complete all input boxes. Enter a "O" 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 dividend on the "total dividend to preferred stockholders line.) Westem's 2016 dividend would be divided between preferred and common stockholders in this manner: Total Dividend-2016 Dividend to preferred stockholders: Dividend in arrears Current year dividend Total dividend to preferred stockholders Dividend to common stockholders