Assume a company has 20,000 shares of $55 par value, 6% cumulative preferred stock outstanding throughout the period 2016 through 2019.Also assume the company has 88,000 shares of $1 par value, common stock outstanding for the same period.In 2016 the company paid out $136,000 in dividends. In 2017 it paid out $166,000, in 2018 it did not pay any dividends, and in 2019 it paid out $196,000.

a)Compute the total cash dividends paid to each class of stock in 2016, 2017, 2018, 2019.