City Communications has the following stockholders' equity:

Requirement
1. Assume the preferred stock is cumulative. Compute the amount of dividends to preferred and common shareholders for 2012 and 2013 if total dividends are $7,600 in 2012 and $48,000 in 2013.

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City Communications Stockholders' Equity Paid-in Capital: Preferred Stock, 8%, $10 par, 100,000 shares authorized, 22,000 shares issued and outstanding Common Stock, $0.50 par, 500,000 shares authorized, $ 220,000 190,000 640,000 $1,050,000 160,000 $1.210.000 380,000 shares issued and outstanding Paid-in Capital in Excess of Par Total Paid-in Capital Retained Earnings Total Stockholders Equity