mputing dividends on preferred and common stock and journa orhern Communications has the followving stockholders' equity on December 3t 1. Preferred Dividend 2018 $9,000 2018: Stockholders' Equity Paid-in Capital Preferred Stock-5%, $11 Par Value, 150,000 shares authorized, 20,000 shares issued and outstanding Common Stock-$2 Par Value: 575,000 shares authorized, 380,000 shares issued and outstanding Paid-In Capital in Excess of Par-Common Total Paid-In Capital 760,000 680,000 1,660,000 200,000 1,860,000 Retained Earnings Total Stockholders' Equity 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 $9,000 in 2018 and $45,000 in 2019. Assume no changes in preferred stock and common stock in 2019 2. Record the journal entries for 2018, assuming that Northern Communications declared the dividend on December 1 for stockholders of record on December 10 Northern Communications paid the dividend on December 20