The notes that accompany the financial statements indicate that Haaaard has not paid dividends for the three years prior to 2015. On July 1, 2015, Haaaard declares a dividend of $150,000 to be paid to preferred an common shareholders on August 1. Determine the amounts of the dividend to be allocated to preferred and common shareholders, assuming that the preferred stock is non-cumulative. Record the appropriate journal entries to record the dividends calculated in 1. Determine the amounts of the dividend to be allocated to preferred and common shareholders, assuming instead that the preferred shares arc cumulative