E13-27 (book/static) Question Help Northern Communications has the following stockholders' equity on December 31, 2018: E: (Click on the icon to view the stockholders' equity) Read the requirements Requirement 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 $9,000 in 2018 and $45,000 in 2019. Assume no changes in preferred stock and common stock in 2019. (Assume all preferred dividends have been paid prior to 2018. Complete all input boxes. Enter a "0" 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.) Northern's 2018 dividend would be divided between preferred and common stockholders in this manner: Data Table Total Dividend-2018 Dividend to preferred stockholders: Requirements Dividend in arrears Current year dividend Total dividend to preferred stockholders Dividend to common stockholders GA 220,000 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 $9,000 in 2018 and $45,000 in 2019. Assume no changes in preferred stock and common stock in 2019. 2. Record the journal entries for 2018, assuming that Northern Communications declared the dividend on December 1 for stockholders of record on December 10. Northern Communications paid the dividend on December 20. Stockholders' Equity Paid-In Capital: Preferred Stock5%, $11 Par Value; 150,000 shares authorized, 20,000 shares issued and outstanding Common Stock-$2 Par Value; 575,000 shares authorized, 380,000 shares issued and outstanding Paid-In Capital in Excess of ParCommon Total Paid-In Capital 760,000 680,000 1,660,000 200,000 Print Done Retained Earnings $ 1,860,000 Total Stockholders' Equity Print Done Enter any number in the edit fields and then click Check Answer. ? parts remaining Clear All Check