E13-27 (similar to) A Question Help Tri State Communications has the following stockholders' equity on December 31, 2018: : (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 $17,320 in 2018 and $51,000 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 ou dividend on the "total dividend to preferred stockholders" line.) Tri State's 2018 dividend would be divided between preferred and common stockholders in this manner: Data Table Requirements Total Dividend2018 Dividend to preferred stockholders: Dividend in arrears Current year dividend Total dividend to preferred stockholders Dividend to common stockholders $ 276,000 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 $17,320 in 2018 and $51,000 in 2019. Assume no changes in preferred stock and common stock in 2019. 2. Record the journal entries for 2018, assuming that Tri State Communications declared the dividend on December 1 for stockholders of record on December 10. Tri State Communications paid the dividend on December 20. Stockholders' Equity Paid-In Capital: Preferred Stock-7%, $12 Par Value: 150,000 shares authorized, 23,000 shares issued and outstanding Common Stock-$3 Par Value; 575,000 shares authorized, 340,000 shares issued and outstanding Paid-In Capital in Excess of ParCommon Total Paid-In Capital 1,020,000 1,190,000 Print Done 2,486,000 140,000 Retained Earnings Enter any number in the edit fields and then click Check Answer. Total Stockholders' Equity $ 2,626,000