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QUESTION 3 (8 marks) ABC Limited was incorporated in January 2018 and issued 1,000 $40 preferred shares and 10,000 common shares at that time. No changes have occurred since then to the number of shares issued and outstanding. ABC Limited declared and paid dividends each year as shown in the table below. REQUIRED: Calculate the total dividends distributed to each class of shares by completing the following table based on the assumptions shown in the table. Include all calculations. Preferred Shares are NOT Cumulative Preferred Shares are Cumulative Year Preferrd Dividend Common Dividend Preferrd Dividend Common Dividend 2018 2019 Dividends Declared and Paid $ 30,000 $ 55,000 $ $ 75,000 2020 2021