Horizon Communications has the following stockholders' equity on December 31, 2024 Click on the icon to view the stockholders' equity) Read the requirements COM Requirement 1. Assuming the preferred stock is cumulative, compute the amount of dividends to preferred stockholders and to common stockholders for 2024 and 2025 if total dividends are $26.700 in 2024 and $55,000 in 2025 Assume no changes in preferred stock and common stock in 2025 (Assume all preferred dividende have been paid prior to 2024 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 out dividend on the total dividend to preferred stockholders" line) Horizon's 2024 dividend would be divided between preferred and common stockholders in this manner Total Dividend-2024 Dividend to preferred stockholders Dividend in arrears Current year dividend Total dividend to preferred stockholders Dividend to common stockholders Part 1 of 5 - X Data table $ 297,000 Stockholders' Equity Paid-In Capital Preferred Stock-10%, $11 Par Value; 150,000 shares authorized, 27,000 shares issued and outstanding Common Stock-$2 Par Value; 575,000 shares authorized, 360,000 shares issued and outstanding Paid-In Capital in Excess of Par-Common Total Paid-In Capital Retained Earnings 720,000 900,000 di d! 1.917.000 170,000 $ 2,087,000 old Total Stockholders' Equity e following stockholders' equity on December 31, 2024: e stockholders' equity) - Requirements 1. Assuming the preferred stock is cumulative, compute the amount of dividends to preferred stockholders and to common stockholders for 2024 and 2025 if total dividends are $26,700 in 2024 and $55,000 in 2025. Assume no changes in preferred stock and common stock in 2025. 2. Record the journal entries for 2024, assuming that Horizon Communications declared the dividend on December 1 for stockholders of record on December 10. Horizon Communications paid the dividend on December 20. Print Done