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Required information [The following information applies to the questions displayed below.] Green Planet Corporation has 6,900 shares of noncumulative 10% preferred stock with a $2 par value and 22,800 shares of common stock with a $0.01 par value. During its first two years of operation, Green Planet declared and paid the following total cash dividends. Year 1 total cash dividends Year 2 total cash dividends $ 610 2,280 Compute the dividends paid each year to each of the two classes of stockholders: preferred and common. Noncumulative Preferred Common Year 1 Year 2 Required information. [The following information applies to the questions displayed below.] Green Planet Corporation has 6,900 shares of noncumulative 10% preferred stock with a $2 par value and 22,800 shares of common stock with a $0.01 par value. During its first two years of operation, Green Planet declared and paid the following total cash dividends. Year 1 total cash dividends Year 2 total cash dividends $ 610 2,280 Compute the dividends paid each year to each of the two classes of stockholders assuming that the preferred stock is cumulative. Cumulative Preferred Common Year 1 Year 2 Prepare journal entries to record the following transactions for Emerson Corporation. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) July 15 Declared a cash dividend payable to common stockholders of $167,000. August 15 Date of record is August 15 for the cash dividend declared on July 15. August 31 Paid the dividend declared on July 15.. View transaction list Journal entry worksheet 1 2 3 Record the declaration of a cash dividend payable to common stockholders. Note: Enter debits before credits Date General Journal Debit Credit July 15 Clear entry View general Journal Racord entry