E13-28 (book/static) The following me of th ese are from the balance sheet of Seed Martin Corp. December 31, 2017 Sneed paid no preferred dividends in 2017 Read the requirements i nds we as and assuming the preferred sockis cutive Assume ne changes in proferred and common stock in 2018 Requirement 1. Compute the dividends to the preferred and common shareholders for 2018 f Complete all out boxes. Enter for any amounts) Sneeds 2018 vided would be divided between proferred and common stockholderi a Dividend to preferred to holders Dividend in Current your dividend Total dividend to preferred stockholders Dividend to common stockholders het dan menceCheck Sneed Marketing Corp. at December 31, 2017: eholders for 2018 if total dividends are $185,000 and assuming the preferred stock is noncumulative. Assume tockholders in this manner: 0 Requirements 1. Compute the dividends to the preferred and cormon shareholders for 2018 if total dividends are $185,000 and assuming the preferred stock is noncumulative. Assume no changes in preferred and common stock in 2018. 2. Record the journal entries for 2018 assuming that Sneed Marketing Corp. declared the dividends on July 1 for stockholders of record on July 15. Sneed paid the dividends on July 31. Print Done Clear All dends are $185,000 and assuming the preferred stock is noncumulative. Assume no changes Data Table ide re Ass mal wider nds Stockholders' Equity Paid-In Capital: Preferred Stock-4%, $2 Par Value; 80,000 shares authorized, 55,000 shares issued and outstanding Common Stock-$0.10 Par Value; 8,750,000 shares authorized, 8,000,000 shares issued and outstanding $ 110,000 800,000 Print Done] Clear All