Eastern Communications has the following stockholders' equity on December 31,

2018:

Requirements,

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 $14,010 in 2018 and $49,000 in 2019. Assume no changes in preferred stock and common stock in 2019.

2. Record the journal entries for 2018 ,assuming that Eastern Communications declared the dividend on December 1 for stockholders of record on December 10. Eastern Communications paid the dividend on December 20.

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 $14,010 in 2018 and 549,000 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 "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.) Eastern's 2018 dividend would be divided between preferred and common stockholders in this manner. Data Table Total Dividend 2018 Dividend to preferred stockholders Dividend in arrears Stockholders' Equity Current year dividend Paid-In Capital Total dividend to preferred stockholders Preferred Stock-7%. $ 9 Par Value: 150,000 shares Dividend to common stockholders authorized, 27,000 shares issued and outstanding $ 243,000 Common Stock-$1 Par Value; 575,000 shares authorized, 400,000 shares issued and outstanding 400,000 Paid-in Capital in Excess of Par-Common 2,600,000 Total Paid-in Capital 3,243,000 140,000 Retained Earnings $ Total Stockholders' Equity 3,383,000