T-Mobile 9:00 a. m Atrs UMET ACCO 112 Parcial 2 V The stockholders equity section of Echota Corporation at December 31, 2016, indluded the folowing 5% preferred stock $100 par value, curmulatve. 10,000 shares authorized, 8,000 shares sued and outstanding800,000 Common stock, $10 par value, 250,000 shares authorized 200,000 shares issued and oustanding $2.000.000 Dividends were not declared on the preferred stock in 2016 and are in arrears On September 15, 2017, he board of directors oEchota Corporation deciared dividends on th prefered stock for 2016 and 2017, to stockholders oford on October 1, 2017, payable on October 15, 2017 On November 1, 2017, the board of directors declared a $.75 per share dividend on the commorn stock, payable November 30, 2017, to stockholders of record on November 15, 2017 Prepare the jounal entries that should be made by Echota Corporation on the dates indicated below September 15, 2017 October 1, 2017 October 15, 2017 November 1, 2017 November 15, 2017 November 30, 20117 ACCOUNT TI CREDI M- Timber Rodge Corporation was organized on January 1, 2015 Duting ts first year, the corporaton issued 40,000 shares of $5 par value preferred stock and 400 000 shares of $ par value common stock. At December 31, the company declared the following cash dvidends s 8.000 $30.000 $70,000 2016 (a) Show the allbcation of dividends to each class of stock, assuming the preflerred stock dividend is 5% and not arnitve