Northern Communications has the following stockholders' equity on December 31, 2018:

Requirements
1. Assuming the preferred stock is cumulative, compute the amount of dividends to preferred stockholders and to common stockholders for 2018 and 2019 if total dividends are $9,000 in 2018 and $45,000 in 2019. Assume no changes in preferred stock and common stock in 2019.
2. Record the journal entries for 2018, assuming that Northern Communications declared the dividend on December 1 for stockholders of record on December 10. Northern Communications paid the dividend on December 20.

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Stockholders' Equity Paid-In Capital: Preferred Stock-5%, $11 Par Value; 150,000 shares authorized, 20,000 shares issued and outstanding $ 220,000 Common Stock-$2 Par Value; 575,000 shares authorized, 380,000 shares issued and outstanding Paid-In Capital in Excess of Par-Common 760,000 680,000 Total Paid-In Capital 1,660,000 Retained Earnings Total Stockholders' Equity 200,000 $ 1,860,000