Great Lakes Manufacturing Inc. reported the following:

Great Lakes Manufacturing has paid all preferred dividends through 2016.
{Requirement}
Compute the total amounts of dividends to both preferred and common shareholders for 2019 and 2020 if total dividends are \(\$ 50,000\) in 2019 and \(\$ 100,000\) in 2020.

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Shareholders' Equity Preferred shares, cumulative, $0.10, 80,000 shares issued.. Common shares, 8,130,000 shares issued $ 80,000 8:3.000