Accounting 112 Project Name Date corporation had the following stock outstanding when the company's board of directors declared a $95.000 cash dividend during the current year: (10 points) Preferred stock, $100 par. 6%. 5.000 shares issued........ S 500.000 Common stock, S10 par. 75.000 shares issued...... .... 750,000 Total $1.250.000 Allocate the cash dividend between the preferred and common stockholders assuming the preferred stock is cumulative and nonparticipating and dividends are one year in arrears