Southern communications has the following stockholders equity on December 31, 2018:

requirement one. Assuming the preferred stock is comulative, compute the amount of dividends to preferred stockholders and to common stockholders for 2018 and 2019 if total dividends are $15,280 in 2018 and $50,000 in 2019. Assume no changes is preferred stock and common stock in 2019.

requirement two. Record the journal entries for 2018, assuming that southern communications the clear the dividend on December 1 for stockholders of Record on December 10. Sourthern communications paid the dividend on December 20.

Stockholders' Equity Paid-In Capital: $ 216,000 Preferred Stock-8%, $ 8 Par Value: 150.000 shares authorized, 27,000 shares issued and outstanding Common Stock-$4 Par Value; 575,000 shares authorized, 390,000 shares issued and outstanding Paid-In Capital in Excess of Par-Common Total Paid-In Capital 1,560,000 780,000 2,556,000 190,000 Retained Earnings $ Total Stockholders' Equity 2,746,000 Southern's 2018 dividend would be divided between preferred and common stockholders in this manner. Total Dividend-2018 Dividend to preferred stockholders: Dividend in arrears Current year dividend Total dividend to preferred stockholders Dividend to common stockholders Southern's 2019 dividend would be divided between preferred and common stockholders in this manner. Total Dividend-2019 Dividend to preferred stockholders: Dividend in arrears Current year dividend Total dividend to preferred stockholders Dividend to common stockholders Dec. 1. 2018: Declared dividend. Debit Credit Date Accounts and Explanation Dec. 1 Dec. 10, 2018: Date of record. Date Accounts and Explanation Debit Credit Dec. 10 Dec. 20, 2018: Paid dividend. Debit Accounts and Explanation Date Credit Dec. 20