P10-4B. Accounting for cash dividends (Learning Objective 4) 15-20 min. Zeranski Consulting Inc. has 12,000 shares of $5, no par preferred shares and 60,000 common shares outstanding for the years 2022-2024. Zeranski Consulting Inc. declared and paid the following dividends during the three-year period: 2022, $23,000;2023,$115,000; and 2024, $160,000. Requirements 1. Compute the total dividends to preferred shareholders and to common shareholders for each of the three years if a. preferred is noncumulative. b. preferred is cumulative. 2. For requirement 1(b), journalize the declaration of the 2024 dividends on December 28 , 2024, and the payment of dividends on January 17, 2025. Use separate Dividends Payable accounts for preferred and common shares