Sweet Acacia Limited has the following information available regarding its share capital at December 31, 2020: Preferred shares, $3.50 cumulative, 18,300 shares issued $915,000 Preferred shares, $4.50 noncumulative 13,400 shares issued 670,000 Common shares, 319,000 shares issued 1,595,000 The shares were issued when the corporation began operations on January 1, 2019. No dividends were declared during 2019 and 2020. On October 30, 2021, the board of directors declares the required preferred share dividends and a $0.50 dividend for each of the common shares. The dividends are payable on December 1, 2021. to the shareholders of record on November 16.2021 How much will be paid to each class of shares? Cumulative preferred shares Common shares. The dividends are payable on December 1, 2021, to the shareholders of record on November 16, 2021 Su dividend for each of How much will be paid to each class of shares? Cumulative preferred shares $ Noncumulative preferred shares $ Common shares 5 eTextbook and Media: hp 6C Clear 40 E Question 4 of 8 Prepare journal entries on the appropriate dates for the 2021 dividends. (Credit account titles are automatically inder when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter O for the amounts Record journal entries in the order presented in the problem) C Date Account Titles and Explanation Oct. 30 (To record declaration of dividend.) Debit Credit 6C Clear ENG 404 PM 2005-40-54 uestion 4 of 8 -/11 [To record payment of dividend eTextbook and Media List of Accounts Assume instead that the maximum cash dividend the company can pay in 2021 is $174,150 Determine how much will be paid to the preferred shareholders and to the common shareholders Dividends paid to the preferred shareholders: 5 Dividends paid to the common shareholders $ e eTextbook and Media 6C Clear 400 ENG 424 PM 2002-03-14