2.3 Highway Corporation has ha 70,000 shares of 5%,$200 par value preferred stock, and 120,000 shares of $100 par value common stock outstanding for the years 2018 and 2019 . During 2019, dividends paid totaled $1200,000; while during 2018, dividends paid totaled $350,000. Required: Examine the impact of announcement and compute the amount of dividends that must have been paid to preferred stockholders and common stockholders in each of the years, given the following independent assumptions: a. Preferred stock is nonparticipating and noncumulative. (2.5 marks) Preferred stock is nonparticipating and cumulative. (2.5 marks)