The following share capital information is available for a corporation with an April 30, 2025, year-end: The shares were issued when the corporation began operations on May 1, 2018. No dividends were declared during the fiscal years ended 2023 and 2024. On February 28, 2025, the board of directors declared the required preferred share dividends and a $0.75 dividend for each of the common shares. The dividends are payable on April 1, 2025, to the shareholders of record on March 15, 2025.

Preferred shares, $2.75 cumulative, 28,000 shares issued		$1,000,000
Preferred shares, $4.25 noncumulative, 11,000 shares issued		600,000
Common shares, 170,000 shares issued		1,020,000

How much will be paid to each class of shares? (Do not leave any answer field blank. Enter 0 for amounts.)

Year		Cumulative Preferred		Non-cumulative Preferred		Common
2023		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount
2024		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount
2025		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount

Prepare journal entries on the appropriate dates for the 2025 dividends. Make separate entries for dividends on cumulative and noncumulative preferred shares. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List debit entries before credit entries. Record journal entries in the order presented in the problem.)

Date	Account Titles	Debit	Credit
choose a transaction date Feb. 28, 2025March 15, 2025April 1, 2025	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
choose a transaction date Feb. 28, 2025March 15, 2025April 1, 2025	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount

Assume instead that the maximum cash dividend the company can pay is $351,750. Determine how much will be paid to the preferred shareholders and to the common shareholders.

Year		Cumulative Preferred		Non-cumulative Preferred		Common
2025		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount