Majestic Manufacturing, Inc., reported the following:

Majestic Manufacturing has paid all preferred dividends through 2009.

Requirement
1. Compute the total amounts of dividends to both preferred and common for 2012 and 2013 if total dividends are $120,000 in 2012 and $144,000 in2013.

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Stockholders' Equity Preferred stock, cumulative, $2.00 par, 8%, 70,000 shares issued Common stock, $0.15 par, 9,070,000 shares issued | $ 140,000 1,360,500