Blue Company has S 100,000 available to pay dividends in 2016. It has 2,500 shares of 10%, SI 00 par preferred stock and 40,000 shares of $5 par common stock outstanding. INSTRUCTIONS 1) Determine the amount of dividends to be paid to each class of shareholder in 2016 for each of the following independent assumptions: a) b) Preferred stock is nonparticipating and noncumulative. Preferred stock is nonparticipating and cumulative. Preferred dividends are 2 years in arrears from the years 2014 and 2015