The following elements of stockholders' equity are from the balance sheet of Sneed Marketing Corp. at December 31 . 2023 : (Click on the icon to view the data.) Sneed paid no preferred dividends in 2023. Read the requirements. Requirement 1. Compute the dividends to the preferred and common shareholders for 2024 if total dividends are $185,000 and assuming the preferred stock is noncumulative. Assume no changes in preferred and common stock in 2024. (Complete all input boxes. Enter " 0 " for any zero amounts.) Sneed's 2024 dividend would be divided between preferred and common stockholders in this manner: Data table Requirements 1. Compute the dividends to the preferred and common shareholders for 2024 if total dividends are $185,000 and assuming the preferred stock is noncumulative. Assume no changes in preferred and common stock in 2024. 2. Record the journal entries for 2024 assuming that Sneed Marketing Corp. declared the dividends on July 1 for stockholders of record on July 15 . Sneed paid the dividends on July 31