The board of director authorizes the dividends and the company declares s60,000 of dividends. Prepare the journal entries and compute the amount of common and preferred dividends to be paid. Use"-if locical formula) 15d 2/152018 Dividends declared Months preferred stock outstanding Amount of preferred dividend Amount of common dividend S 60,000 960 59.040 must use -if logical formula must use -if logical formula 12/31/2018 15e 6/1/2018 The company paid for income tax payable 6/1/2018 15f 12/31/2018 The company declares 2-to-1 stock split The board of director authorizes the dividends and the company declares s60,000 of dividends. Prepare the journal entries and compute the amount of common and preferred dividends to be paid. Use"-if locical formula) 15d 2/152018 Dividends declared Months preferred stock outstanding Amount of preferred dividend Amount of common dividend S 60,000 960 59.040 must use -if logical formula must use -if logical formula 12/31/2018 15e 6/1/2018 The company paid for income tax payable 6/1/2018 15f 12/31/2018 The company declares 2-to-1 stock split