7) Dividends The shareholders' equity section of Brentlawn Industries Ltd.'s balance sheet as at December 31, 2016, was as follows: Contributed capital Preferred shares, $1.50, cumulative (3 year in arrears), 500,000 shares authorized, 50,000 shares issued and outstanding Common shares, 1,000,000 shares authorized, 100,000 shares issued and outstanding Retained earnings $ 2,500,000 3,500,000 8,750,000 $14,750,000 On December 15, 2017, Brentlawn's board of directors declared total dividends of $450,000, to the shareholders of record on January 5, 2018. The payments date is January 15, 2018. Required: Determine the amount of dividends that were paid to each class of shares on the payment date.