New England Communications has the following stockholders' equity on December 31, 2024: (Click on the icon to view the stockholders' equity) Read the requirements. 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 $11,500 in 2024 and $54,000 in 2025. Assume no changes in preferred stock and common stock in 2025. (Assume all preferred dividends 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.) New England'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 Requirements 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 $11,500 in 2024 and $54,000 in 2025. Assume no changes in preferred stock and common stock in 2025. 2. Record the journal entries for 2024, assuming that New England Communications declared the dividend on December 1 for stockholders of record on December 10. New England Communications paid the dividend on December 20. X Data table Stockholders' Equity Paid-In Capital: Preferred Stock-6%, $ 9 Par Value; 150,000 shares authorized, 25,000 shares issued and outstanding Common Stock-$3 Par Value; 575,000 shares authorized, 340,000 shares issued and outstanding Paid-In Capital in Excess of Par-Common Total Paid-In Capital Retained Earnings Total Stockholders' Equity $ 225,000 1,020,000 170,000 1,415,000 180,000 1,595,000