K The following elements of stockholders' equity are from the balance sheet of Sill Marketing Corp. at December 31, 2015 (Click on the icon to view the data.) Sill paid no preferred dividends in 2015 Requirements 1. Compute the dividends to the preferred and common shareholders for 2016 if total dividends are $190,000 and assuming the preferred stock is noncumulative 2. Record the journal entries for 2016 assuming that Sill Marketing Corp. declared the dividends on July 1 for stockholders of record on July 15. Sill paid the dividends on July 31. Requirement 1. Compute the dividends to the preferred and common shareholders for 2016 if total dividends are $190,000 and assuming the preferred stock is noncumulative. (Complete all input boxes. Enter "0" for any zero amounts.) Sill's 2016 dividend would be divided between preferred and common stockholders in this manner: Total Dividend-2016 Dividend to preferred stockholders Dividend in arrears Current year dividend Total dividend in preferred stockholders Data table Paid-In Capital: Stockholders' Equity Preferred Stock-7%, $2 Par Value; 150,000 shares authorized, 50,000 shares issued and outstanding Common Stock-$0.10 Par Value; 11,000,000 shares authorized, 10,250,000 shares issued and outstanding $ 100,000 1,025,000 Print Done