A company’s outstanding stock consists of 80 shares of noncumulative 5% preferred stock with a $5 par value and also 200 shares of common stock with a $1 par value. During its first three years of operation, the corporation declared and paid the following total cash dividends.

Part 1. Determine the amount of dividends paid each year to each of the two classes of stockholders: preferred and common.
Part 2. Determine the amount of dividends paid each year to each of the two classes of stockholders assuming that the preferred stock is cumulative.

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Year 1 total cash dividends... $15 Year 2 total cash dividends.... $5 Year 3 total cash dividends.... $200