Analyzing and Distributing Cash Dividends to Preferred and Common Stocks Potter Company has outstanding 20.000 shares o $40 par value 7% preferred stock and 70,000 shares o $5 parvaue common stock. During ts $270,000 in the second year, and $56,000 in the third year a. If the preferred stock is curmulative, determine the total amount of cash dividends paid to each class of stock in each of the three years. st three years n o siness. de are and paid no cash d i en h e st ear. Preferred Common Year 1 ear 2 Year 3