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 $0.50 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, $3.00 cumulative, 20,000 shares issued $1,000,000 Preferred shares, $4.50 noncumulative, 14,000 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 O for amounts.) Year 2023 $ Cumulative Preferred Non-cumulative Preferred 60000 $ 0 Common 2024 $ 60000 $ 0 $ 2025 $ 60000 S 63000 $ 85000 Question Part Score 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 O for the amounts. List debit entries before credit entries. Record journal entries in the order presented in the problem.) Date Account Titles Feb. 28, 2025 Cash Dividende - Preferred Cash Dividends - Preferred Cash Dividends-Common Dividends Payable April 1, 2025 Dividends Payable Cash Debit 180000 63000 85000 328000 -16 Assume instead that the maximum cash dividend the company can pay is $320,000. Determine how much will be paid to the preferred shareholders and to the common shareholders. Common 63000 $ Non-cumulative Preferred 180000 $ Year Cumulative Preferred 2025 $ 77000