1)Calculate the dividends paid to each class of stock in each of those years assuming ALL the preferred stock is CUMULATIVE.Use the matrix format listed below.Be sure to show your supporting calculations and label them to indicate which numbers in the matrix they are supporting.

Preferred

Total

Preferred

dividends

Common

dividend

dividends

carried forward

dividends paid

Year

declared

paid this year

to next year

this year

1

$10,000

$10,000

$5,000

0

2

$36,000

$20,000

0

$16,000

3

$60,000

$15,000

0

$45,000