2. Peloton has the following stock outstanding. Common Stock- $50,000 (\$1 par, 150,000 shares authorized, 50,000 shares issued and outstanding) - Paid-in Capital in Excess of Par, Common Stock- $750,000 - Preferred Stock- $60,000(15%, $30 par, 10,000 shares authorized, 2,000 shares issued and outstanding) - Paid-in Capital in Excess of Par, Preferred Stock- $120,000 Given this information, if Peloton pays dividends totaling $50,000 during the year, and if the preferred stock is cumulative and the dividends on the preferred stock were TWO years in arrears as of the beginning of the year (i.e., Peloton did not pay any dividends to preferred stockholders last year or the year before), what is the amount of dividends that common stockholders will receive this year? 3. Use the information provided in Problem 2. What is the amount of dividends that common stockholders would receive this year if the preferred stock were NOT cumulative