Homework 13 Equity Corona Inc has the following shares outstanding 5,000 shares $1 par value common stock 1,000 shares $10 par value 4% cumulative preferred stock. In their first year of operations, Corona declares a $100 dividend. How much of the dividend will be paid to Preferred? How much of the dividend will be paid to Common? How much, if any, dividend must Preferred be paid in future periods before Common can receive a dividend? What is the journal entry on the Date of Declaration? What is the journal entry on the Date of Record? What is the journal entry on the Date of Payment?