Requirement 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 $20,870 in 2018 and $48,000 in 2019. Assume no changes in preferred stock and common stock in 2019. (Assume all preferred dividends have been paid prior to 2018. 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.) Horizon's 2018 dividend would be divided between preferred and common stockholders in this manner: Data Table Total Dividend2018 Dividend to preferred stockholders: Requirements Stockholders' Equity Dividend in arrears Paid-In Capital: Current year dividend 1. Assuming the preferred stock is cumulative, compute the amount of dividends Preferred Stock9%, $ 9 Par Value; 150,000 shares Total dividend to preferred stockholders to preferred stockholders and to common stockholders for 2018 and 2019 if authorized, 27,000 shares issued and outstanding $ 243.000 total dividends are $20,870 in 2018 and $48,000 in 2019. Assume no changes Common Stock-$3 Par Value; 575,000 shares Dividend to common stockholders in preferred stock and common stock in 2019. authorized, 370,000 shares issued and outstanding 1,110,000 2. Record the journal entries for 2018, assuming that Horizon Communications Paid-In Capital in Excess of Par-Common 1,295,000 declared the dividend on December 1 for stockholders of record on December 10. Horizon Communications paid the dividend on December 20. Total Paid-In Capital 2,648,000 Retained Earnings 120,000 $ 2,768,000 Total Stockholders' Equity Print Done Print Done