A company was organized in January 2020 and has 20,000 shares of $10 par value, 10%, nonparticipating preferred stock outstanding and 150,000 shares of $2 par value common stock outstanding. It has declared and paid cash dividends each year as shown below. Calculate the total dividends distributed to each class of stockholder under each of the assumptions given.

Assuming Preferred Assuming Preferred

Stock Stock

is Noncumulative is Cumulative

Cash

Dividends

Paid Preferred Common Preferred Common

Year

2020$6,000 ________ ________ ________ _________

2021 $30,000________________ ________ _________

2022$60,000________________ ________ _________