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The shareholders' equity of a company includes the items shown below. The board of directors of the company declared cash dividends of $26 million, $50 million, and $210 million in its first three years of operation-Year 1, Year 2, and Year 3, respectively. ($ in millions) Common stock $ 160 Paid-in capital excess of par, common 1,040 Preferred stock, 8% 500 Paid-in capital-excess of par, preferred 615 Required: 1. Determine the amount of dividends to be paid to preferred and common shareholders in each of the three years. assuming that the preferred stock is cumulative and nonparticipating. 2. Determine the amount of dividends to be paid to preferred and common shareholders in each of the three years. assuming that the preferred stock is noncumulative and nonparticipating. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine the amount of dividends to be paid to preferred and common shareholders in each of the three years, assuming that the preferred stock is cumulative and nonparticipating. Note: Enter your answers In millions (Le., 10,000,000 should be entered as 10). Preferred Common Your 1 Year 2