Barstow Corporation has a single class of common stock and a single class of cumulative preferred stock. The cumulative preferred stock requires the corporation to pay an annual dividend of $8,000 to preferred stockholders. On January 1, 2019, Barstow's preferred dividends were 1 year in arrears, which means that Barstow declared neither preferred nor common dividends in 2018. During the 3 years (2019-2021), Barstow's board of directors determined they would be able to pay $9,500, $17,000, and $20,000, respectively.
Required:
Show how these anticipated payments will be split between preferred and common stockholders?