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The shareholders' equity of ILP Industries includes the items shown below. The board of directors of ILP declared cash dividends of $8 million, $15 milion, and $200 million in its first three years of operation-2018, 2019, and 2020, respectively Common stock Paid-in capital-excess of par, common Preferred stock, 5% Paid-in capital-excess of par, preferred ($ in millions) $150 970 300 690 Required: Determine the amount of dividends to be pald to preferred and common shareholders in each of the three years, assuming that the preferred stock is cumulative and nonparticipating. (Enter your answers in millions (.e., 10,00o,000 should be entered as 10)) Annual Par Value Dividend Preferred Dividend Stock Rate Annual Preferred Dividend: Dividends in Arrears at year-end Paid to Total Cash Paid to Dividend Paid Preferred Common 2018 2019 2020 Total 15 200 223 S 15 23 $