Requirement 1. Assuming the preferred stock is cumulative, compute the amount of dividends to preferred stockholders and to common stockholders for 2024 and 2025 total dividends are $14.240 in 2024 and 354,000 in 2025. Assume no changes in preferred stock and common stock in 2025. (Assume all preferred dividends have been said 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) Horizon's 2024 dividend would be divided between preferred and common stockholders in this manner: Total Dividend-2024 S 14.240 Dividend to preferred stockholders: Dividend in arrears Current year dividend 16.240 Total dividend to preferred stockholders (14.240) Dividend to common stockholders Horizon's 2025 dividend would be divided between preferred and common stockholders in this manner: Total Dividend-2025 54.000 Dividend to preferred stockholders: Dividend in arrears s 2.000 16.240 Current year dividend Total dividend to preferred stockholders (18.240) Dividend to common stockholders 35.760 Requirement 2. Record the journal entries for 2024, assuming that Horizon Communications declared the dividend on December 1 for stockholders of record on December 10. Horizon Communications paid the dividend on December 20. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. If no entry is required, select "No entry required" on the first line of the Accounts and Explanation column and leave the remaining cells blank) Dec. 1. 2024: Declared dividend. Date Accounts and Explanation Debit Credit Dec. 1 hoose from any list or enter any number in the input fields and then click Check