Western Communications has the following stockholders' equity on December 31, 2024: (Click on the icon to view the stockholders' equity) Read the requirements. Requirement 1. Assuming the preferred stock is cumulative, compute the amount of dividends to preferred stockholders and to common stockholders for 2024 and 2025 if total dividends are $27,800 in 2024 and $54,000 in 2025. Assume no changes in preferred stock and common stock in 2025. (Assume all preferred dividends have been paid prior to 2024. Complete all input boxes. Enter a "0" for zero amounts. For the current year preferred dividend, be sure to enter the calculated dividend on the "current year dividend" line and the paid out dividend on the "total dividend to preferred stockholders" line.) Western's 2024 dividend would be divided between preferred and common stockholders in this manner: Total Dividend-2024 Dividend to preferred stockholders: Dividend in arrears Current year dividend Total dividend to preferred stockholders Dividend to common stockholders Western's 2025 dividend would be divided between preferred and common stockholders in this manner: Total Dividend-2025 Dividend to preferred stockholders: Dividend in arrears Current year dividend Total dividend to preferred stockholders Dividend to common stockholders Requirement 2. Record the journal entries for 2024, assuming that Western Communications declared the dividend on December 1 for stockholders of record on December 10. Western Communications paid the dividend on December 20. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. If no entry is required, select "No entry required" on the first line of the Accounts and Explanation column and leave the remaining cells blank.) Dec. 1, 2024: Declared dividend. Date Dec. 1 Dec. 10, 2024: Date of record. Date Dec. 10 Dec 20 2021 Paid dividend. Accounts and Explanation Debit Credit Accounts and Explanation Debit Credit Dec. 10, 2024: Date of record. Date Dec. 10 Dec. 20, 2024: Paid dividend. Date Dec. 20 Accounts and Explanation Debit Credit Accounts and Explanation Debit Credit Data table Stockholders' Equity Paid-In Capital: Preferred Stock-10%, $11 Par Value; 150,000 shares authorized, 28,000 shares issued and outstanding Common Stock-$3 Par Value; 575,000 shares 308,000 authorized, 310,000 shares issued and outstanding 930,000 775,000 Paid-In Capital in Excess of Par-Common 2,013,000 Total Paid-In Capital Retained Earnings Total Stockholders' Equity 120,000 $ 2,133,000 Requirements 1. Assuming the preferred stock is cumulative, compute the amount of dividends to preferred stockholders and to common stockholders for 2024 and 2025 if total dividends are $27,800 in 2024 and $54,000 in 2025. Assume no changes in preferred stock and common stock in 2025. 2. Record the journal entries for 2024, assuming that Western Communications declared the dividend on December 1 for stockholders of record on December 10. Western Communications paid the dividend on December 20. Print Done