Hello can someone help me fill out this journal entry. Please use the chart of accounts give so that the answer will be counted.

The Stockholders' Equity category of Jackson Company's balance sheet as of January 1, 2016, appeared as follows: Jackson Company's Partial B ance Sheet January 1, 2016 1 Stockholders equity: Prefemed stock. $100 par, 8% 2.000 shares issued and 00.000,00 outstanding 3 Common stock S10 par. 5.000 shares issued and outstanding 0,000.00 4 Additional paid-in capital $550.000,00 s Total contributed capital 100,000.00 Retained earnings $950.000,00 7 Total stockholders' equity The notes that accompany the financial statements indicate that Jadkson has not paid dividends for the two years prior to 2016. On July 1, 2016, lack on declares a dividend of $100,000 to be paid to preferred and common stockholders on August Required 1. Determine the amounts of the dividends to be allocated to preferred and common stockholders assuming that the preferred stock is noncumulative, nonparticipating stock. 2. Record the appropriate journal entres on July 1 and August 1, 2016. 3. Determine the amounts of the dividends to be allocated to preferred and common stockholders assuming instead that the preferred stock is cumulative, nonparticipating stock