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 $$5,640$ in $2024$ and $$54,000$ in $2025.$ 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 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:

Requirements

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 $$5,640$ in $2024$ and $$54,000$ in $2025.$ Assume no changes in preferred stock and common stock in $2025.$

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 $20.$

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